NEST has been set up by the government especially for auto enrolment. They are here to make sure that every employer has access to a workplace pension scheme that meets the requirements of the new pension rules.
This is news that some may already know, but for the 1.2 million SME’s still to stage the multiple tasks ahead seem onerous. Well the good news is that not only have NEST been proactive in talking to leading payroll providers but they have also been listening to their concerns regarding the processes payroll software users encounter when dealing with pension providers.
From today, 11th June, NEST has unveiled its new Web Services functionality which will revolutionise the way that payroll and pension integrates. NEST’s API suite allows data to flow seamlessly between Payroll Software and NEST for many of the business functions.
So what does this mean? Well previous to today, and, unfortunately, still with other pension providers, running Automatic Enrolment through payroll is both time consuming and complex, adding extra processes to your payroll. The extra processes, including setting up the pension scheme, enrolling workers, retrieving opt outs can now be taken away with this clever tool.
Alex Rowson, Technical Director at Qtac Solutions and chairman of the BASDA Payroll Pensions & HR Interest Group comments “We have been involved in talks with NEST for a number of years and are impressed that they have listened to the issues of integration of payroll software and pension providers. NEST have produced a rich functional suite of API’s (Application Programming Interfaces) to allow almost all the business processes involved with the management of their pension scheme to be achieved through direct integration. Something had to be done to combat the tsunami of employers entering auto-enrolment in the next two years and the NEST API suite is a fantastic benchmark for other providers to aim for.”
Due to go live in winter 2015, NEST Web Services capabilities will make auto enrolment processes faster and more streamlined taking some weight off the shoulders of payroll bureaux, accountants and book-keepers whose clients choose NEST as their Workplace Pension provider.
There is a lot of work still to do in order to build and test this integrated solution and we will be working closely with the NEST Web Services team over the coming months to ensure we provide a slick and robust system to ease the auto-enrolment journey for our customers whose clients choose NEST as their workplace pension provider.