NEST (National Employment Savings Trust) is one of many pension scheme that you can use to auto-enrolment employees. Once you are activated with NEST, you can then enable the module and create a scheme in SelectPay. To do this, follow the sections below.
🤓Tip: If you have not used NEST before you may need to add the pension module before it can be used. First check your unlock key, if it is missing, reach out to your account manager.
Create a NEST scheme
Click System, and then click Company Details.
Click the NEST tab, then enter your employer reference.
Click the Group magnifying glass
icon, then click Edit.Enter desired group names, click the save
icon.Double-click the the default group.
Click the Payment Source magnifying glass
icon, then click Edit.Enter desired payment source name, click the save
icon.Double-click the the default payment source.
Click Save and Close.
Create NEST pay element
Click Payroll, and then click Pay Elements.
Click New Pay Element, enter your desired code.
Select the Type drop-down, and click Deduction.
Select the Pension checkbox.
📌Note: Check your scheme to confirm if PAYE and NI need to be selected.
Click the Pension tab, then click the Scheme Type drop-down.
Click NEST, enter the required EE's and ER's percentages.
The NEST group and payment source will be auto populated.
Click Save and Close.
Process NEST pension
Before assigning the pension pay element to an employee, ensure they have been auto-enrolled.
Assign the pension pay element to an employee.
Click the Pension tab, and then click Pension Data Transfer.
Click NEST, then select NEST Worker Enrolment Export.
Click Next, select the required checkboxes.
Click Browse, navigate to your desired save location, and click Ok.
Click Next.
📌Note: If an employee who is auto-enrolled, moves from a non-NEST pension, into the NEST pension. You will need to manually include them in the worker enrolment export file.