NEST pension scheme administration services

Rowanmoor Pensions, with its proven record for providing quality pension administration, is offering new services for businesses choosing to use the NEST pension scheme to meet the introduction of auto-enrolment.

In less than 12 months, new Government requirements for pension scheme auto-enrolment will start to roll out. These will compel all UK employers to enrol eligible jobholders into a qualifying pension scheme which will have to meet new quality standards, including minimum employee and employer contributions.

Businesses will have to adhere to considerable new administrative responsibilities, both initially and ongoing and self-certify their compliance with the new regulations to The Pensions Regulator. There will be severe financial penalties for failing to comply.

Employers who do not operate a qualifying pension scheme must choose whether to amend any existing pension scheme, or establish a new scheme. This action must be taken by a pre-defined staging date.

To help with this, a simple, low-cost pension scheme known as NEST, the National Employment Savings Trust, has been introduced as an option for employers. NEST Corporation, the trustee body that runs NEST, is a not-for-profit organisation, accountable to Parliament through the Department for Work and Pensions (DWP).

Rowanmoor Pensions’ NEST administration services will offer practical administrative support to establish and run NEST accounts and are designed to ease the burden of the new employer duties.

If you are an employer or an independent financial adviser and would like to find out more about our NEST services, please contact us by phone or in writing, or use the enquiries box on the right hand side of this page.

More information about NEST can be found at www.nestpensions.org.uk