Should you use your own scheme or NEST?
Some employers may wish to use the National Employment Savings Trust (NEST) to fulfil their auto enrolment duties; however, many will want to use an alternative pension scheme instead.
To use an alternative pension scheme as an automatic enrolment scheme, it must meet three tiers of requirement:
- the minimum requirements
- qualifying criteria
- automatic enrolment criteria
The assessment is not necessarily straightforward and expert advice will be required in the majority of cases.
Fidelius has both the expertise and specialist systems needed to help you assess whether your scheme meets all the requirements. If it doesn’t, we can then advise you on the changes you need to make in order for it to be used as an automatic enrolment scheme, or help you find an appropriate new scheme.
We can then help you implement the auto enrolment process, taking into account your existing processes and HR and payroll systems.
If you would like to talk to one of our pensions consultants about our auto enrolment services, please contact us on 0845 241 6500.
Can we help?
Our team of consultants are here to help you with your employee benefits needs.
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