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.

NOW: Pensions is supportive, easy for our employees to understand and uncomplicated in terms of its implementation. Its structured approach removes the complicated investment choices & makes auto-enrolment a straightforward and simple process. — Mark Manaton, Managing Director, Blue Arrow Group
There is a need for a member-centric solution designed for ease of use with low costs and cutting edge investment strategy, which delivers long term stable returns. ATP's in-house investment capabilities, combined with our novel and innovative… — Lars Rohde, Governor of the National Bank of Denmark and Former CEO of ATP Group
…We pride ourselves on our abilities to make the perfect match for both clients and workers. Our decision to appoint NOW: Pensions came as a result of wanting a quality workplace pension scheme that is structured, simple and easy for us to… — Ian Naylor, Legal Director of Randstad
ATP comes to the UK pensions world with the highest commendations from the Danish trade unions, employers and government. NOW: Pensions' offering in the UK will be high quality, low cost, and honest and I'm proud to be associated with it. — John Monks, member of House of Lords and former General Secretary of ETUC and TUC
NOW: Pensions' risk management and diversified growth fund are state of the art. — Win Robbins, former Head of European Fixed Income Barclays Global Investors