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Welcome

NEST roadshow. Welcome. Introduction. Roy Porter Assistant director, distribution. #nestontheroad. Agenda. Welcome and introduction to the day Roy Porter Getting ready for automatic enrolment Nigel Pettinger Introduction to breakout sessions Breakout sessions Break.

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Welcome

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Presentation Transcript

  1. NEST roadshow Welcome

  2. Introduction Roy PorterAssistant director, distribution #nestontheroad

  3. Agenda • Welcome and introduction to the day Roy Porter • Getting ready for automatic enrolmentNigel Pettinger • Introduction to breakout sessions • Breakout sessions • Break • Breakout sessions continue • Keynote speakerSteve Webb MP, Minister for Pensions • A view from The Pensions Regulator: time for deliveryJoanna Hancock, Design and Service Delivery Lead, Employer Compliance Regime • Q and A with representatives from NEST

  4. Gauging the scale of automatic enrolment

  5. PAYE schemes by stage – Oct 2012 to Feb 2018 These figures are from the Pensions Regulator reflect the numbers of PAYE schemes not the numbers of employers. Employers may have more than one PAYE scheme.

  6. PAYE schemes - Oct 2012 to Feb 2014 These figures are from the Pensions Regulator and reflect the number of PAYE schemes not the number of employers. Employers may have more than one PAYE scheme.

  7. PAYE schemes - Oct 2012 to May 2015 These figures are from the Pensions Regulator and reflect the number of PAYE schemes not the number of employers. Employers may have more than one PAYE scheme.

  8. NEST’s ready to help

  9. How are people using NEST ? 12,000 non-managerial staff – high turnover, relatively low paid 2,000 staff in one business unit 5,000 people outside existing scheme

  10. Who’s using NEST? • BBC • BT • Capita Resourcing Ltd • Compass Group UK & Ireland • Gondola Group • The JSA Group • McDonald's Restaurants Ltd • The Rank Group Plc • Travelodge ...and over 90 other major employers.

  11. Getting ready for automatic enrolment Nigel Pettinger Director of customer services #nestontheroad

  12. DWP’s staging and phasing plans 1 per cent employer contributions 2 per cent employer contribution 3 per cent employer contribution Phasing Employers with 250 or more staff Employers with 50 to 249 staff Employers with 30-49 staff Employers with fewer than 30 staff Staging Apr 2014 Apr 2015 Aug 2015 Oct 2015 April 2017 Oct 2012 Feb 2014 Jan 2016 Oct 2017 Oct 2018

  13. Employer duties - who qualifies for what?

  14. Understanding what employers need to do • Know the timelines – staging dates • Understand the regulations – TPR guidance • Get to grips with your legal duties • Set up your project team – including payroll • Assess your workforce structure • Review your current HR/payroll processes

  15. Employer journey • First you have to understand what you need to do to meet your duties. TPR’s guidance will help you do this. You can find this at tpr.gov.uk • Then get ready to use NEST. Follow our five practical steps to get started.

  16. Step 1: Get your plans in place • What is your implementation approach? • How will you communicate with your people? • How will you use waiting periods?

  17. Step 2: Get your organisation ready • Set up online • Employer information • Delegates • Groups and payment details • Make changes to your business • Communicate • Keeping workers informed • Statutory communications • Scheme communications

  18. Step 3: Assess and notify your workers • Collect workforce data • Perform the assessment • Confirm enrolment approach • Deliver statutory communications • .... and plan re-assessments

  19. Communications – who gets what?

  20. Employer notices

  21. Step 4: Enrol your workers • Automatically enrol eligible job-holders • Identify workers who’ve opted in • Download and populate templates or create files • Upload member enrolment data • Record changes in HR / payroll

  22. Step 5: Manage contributions and opt-outs • Calculate and make deductions from payroll • Download and populate templates or create files • Submit a contribution schedule • Make payment, based on schedule • Manage opt-outs, cessations and leavers

  23. Three ways for members to opt out • Telephone • Online • Post

  24. Breakout sessions How to assess the investment approaches of schemes #nestontheroad

  25. Employer journey • First you have to understand what you need to do to meet your duties. TPR’s guidance will help you do this. You can find this at tpr.gov.uk • Then get ready to use NEST. Follow our five practical steps to get started.

  26. The wider picture Dirk PatersonHead of corporate affairs #nestontheroad

  27. Keynote speaker Steve Webb MP,Minister for Pensions

  28. The view from the regulator Joanna Hancock,The Pensions Regulator

  29. Questions and answers Mark Fawcett, CIOHelen Dean, managing director scheme development Nigel Pettinger, director of customer services Graham Vidler, director of communications and engagement

  30. Contact NEST - employers If you’re an employer: Email us at employer.enquiries@nestcorporation.org.uk Call us on 0300 303 1949 If you’re an adviser: Email us at intermediary.enquiries@nestcorporation.org.uk Call us on 0300 303 1949 #nestontheroad

  31. Legal information © NEST Corporation 2012. All rights reserved. This information doesn’t constitute financial, investment or professional advice and shouldn’t be relied on. We don’t make any personal recommendation or give advice to employers and their workers on how to make investment decisions. If you’re considering using NEST you might want to talk with an appropriately qualified financial adviser. We don’t give any undertaking or make any representation or warranty that this document is complete or error free. We don’t accept responsibility for any loss caused as a result of any error, inaccuracy or incompleteness. Any form of reproduction of all or any part of these slides is not allowed.

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