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Went live on first one in late February
Nine employee payroll already running in Liberty accounts, so things like NI number and date of birth already in place. Liberty have introduced an upload file for NEST and another generic upload file for all other pension schemes (that may need tweaking to work with any given scheme). Entered all the details of the employees on NEST website and sent them standard NEST letters as required. After payroll run for February, uploaded Liberty file and then checked on NEST website. Had a couple of minor teething issues, really part of the learning curve for the first client, as expected. I feel confident that the rest of my client base using the Liberty/NEST combination will work well. Only issue is when another pension scheme provider is used and I am sure there will be another addition to my learning curve.
I have to say that the whole process was much easier than I thought it would be. The article above is correct and you will need to put in more time in advance for larger payrolls, but my experience of the Liberty/NEST combination, where nothing was done until a few days before the payroll was due to be run, apart from setting up as an employer with NEST, is that there is really nothing to fear.
Free 'Team Assessment' tool for SMEs
Paycircle has launched a payroll platform that integrates fully with NEST. It's been designed with simplicity in mind and is targeted at SMEs staging over the next 24 months and beyond.
The website has some cool free tools including an Employee Contributions Calculator http://paycircle.co.uk/workplace-pension/employee-contributions-calculat... well as a Staging Date Calculator, but by far the most helpful tool is their free Team Assessment tool http://paycircle.co.uk/workplace-pension/ which can tell an employer 'who's in' who needs to be invited and what everyones contributions are likely to be (based upon gross salaries). It's interactive too so that employers can play with 'what if' scenarios. Its report spans the next three years and will tell you at what date employees go over the age threshold and looks at how the numbers change between now and October 18. Employers can even download a free report so that they can share it with their team. If anything changes, they just update their team's info and download another report. All free.
The plan is to have a platform for accountants and bookkeepers too so that everyone can work collaboratively and see the same information. Its all in the cloud and can even be accessed and run from a smart phone.
Definitely worth a look and the free Team Assessment tool is really handy.