Having just returned from Accountex 2015 the worry and despair surrounding automatic enrolment and its significant impact on the responsibilities of accountants and bureaux was clear. By the end of this year 100,000 companies will have reached their automatic-enrolment staging date, but, these numbers will be dwarfed in 2016 with volumes swelling to over 600,000 when the legislation impacts small and micro employers.
Qtac Solutions understand the scale of the task that lies ahead and as a leading payroll software provider we know the importance of our role but we also don’t under estimate the importance of pension providers.
Today, 11th June, is a big step in the right direction as NEST has unveiled its new Web Services functionality which will revolutionise the way that payroll and pension integrates. NEST’s API allows data to flow seamlessly from Payroll to NEST.
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, adding extra processes, and complex. The extra processes, including setting up the pension scheme, enrolling workers, retrieving opt outs can now be taken away.
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.”
NEST’s primary role is to make sure that every employer has access to a workplace pension scheme and these announcements are fantastic news for Accountants and Bureaux.
At Qtac we have been shouting from the roof about the importance of a seamless automatic enrolment process, making the processes similar to that of RTI (real time information). So the news from NEST is huge step in the right direction as it will allow our clients to take unnecessary automatic enrolment complexities away from their payroll processing giving them more confidence in facing the impending storm.