Help Centre for Employers

Direct Debit Payments Process

 


Step One
Pension data file imported to your portal

When you have closed your payroll for the period, produce your pension data file and import to your portal in the usual way. It is important to ensure that the pension data file is imported on time and at the end of each pay cycle e.g. weekly, fortnightly, 4 weekly, monthly.


Step Two
Payroll processed

On the processing date selected in the payroll calendar in your portal. - Your payroll will be processed on the date that you have selected in the payroll calendar on your portal. Remember to check that all data errors are corrected prior to the processing date using our Validation Tool, otherwise, data errors could cause no contributions being collected or incorrect contributions, both of which could result in action by The Pensions Regulator. Data errors should be corrected in your payroll software and the pension data file should then be reproduced and re-imported. It is advisable to ensure that your payroll calendar is always set up with pay periods six months in advance.


Step Three
Request for payment

Up to 5 days after the payroll is processed. - For each pay period that a pension data file has been successfully imported, you will receive a single advance notice of direct debit notifying you of the amount and the date that pension contributions will be collected from your bank account. Remember that the collection for the pay period will not include pension contributions for members that have been enrolled but still have a statutory right to opt out. It is important to keep NOW: Pensions up to date with any changes to your direct debit arrangements otherwise the collection of pension contributions could be delayed.


Step Four
Payment made

Up to 5 days after the advance notice of direct debits has been issued. - Provided that you have successfully imported a pension data file for each pay period: If your payroll frequency is weekly, the collection of pension contributions will happen on the same day every week. If your payroll frequency is fortnightly, the collection of pension contributions will happen on the same day every other week. If your payroll frequency is 4 weekly, the collection of pension contributions will happen on the same day every 4 weeks. If your payroll frequency is 445, the collection of pension contributions will happen on the same day every 4 weeks. Otherwise the collection of pension contributions will happen on the same date each month.

We chose NOW: Pensions as it has the best cultural fit for ISS and we believe it will offer our employees the best mix of long term investment returns, strong risk management and low scheme costs for members. NOW: Pensions already has the experience… — Matthew Brabin, CFO, ISS UK
I am excited to be joining such a distinguished Board of Trustees, over-seeing a modern, transparent, cost efficient and high-performing pension fund. — Win Robbins, former Head of European Fixed Income Barclays Global Investors
We decided to appoint NOW: Pensions because of the simplicity and robustness of its scheme. The NOW: Pensions product is both cost effective and straightforward to implement... — Mark Roberts, Managing Director at gap personnel
...its simple design means the pressure is taken off us as the employer and avoids costly administration charges, whilst removing the burden of choice and ensuring the best possible retirement outcome for our employees. — Matthew Johnson, Head of Compensation and Benefits at Adecco Group UK & Ireland
Over a short period of time, NOW: Pensions has established itself as a respected and credible player in the UK workplace pensions market attracting thousands of employers and hundreds of thousands of members. Joining the team at such a crucial time… — Jocelyn Blackwell, Founder of Dunnett Shaw and Raising Standards in Pensions Administration