Once your Direct Debit account is active and you have uploaded your first contributions we will automatically bill you for these amounts in order to invest them in the workplace pension scheme. The dates below outline how and when we take payment.
1st payment attempt - 6th of the month
All outstanding contributions with pay period end dates on or before the 5th of the current month will be billed on the 6th of the month.
2nd payment attempt - 16th of the month
This date will only collect the following:
- retry failed payments with pay period end dates on or before the 5th of the current month.
- collect employee contributions whose opt out period has ended between 6 - 15th of current month
3rd payment attempt - 26th of the month
Just like the above, this date will only collect the following
- retry failed payments with pay period end dates for the 5th of the current month
- collect employee contributions whose opt out period has ended between 16 - 25th of current month
Making changes before you are billed
We will email you 2 working days before the 6th prior to taking payment to let you know how much you will be billed for. This allows you to check and amend the amounts before we take payment should there have been any errors or changes to the data uploaded.
Employees within their opt-out period
We will not take payment for contributions associated with employees who are still within their opt-out window. This is to reduce the need for you to request a refund from us.
If you have just set up your pension scheme with us, your first payment will be on the 6th, 16th or 26th, one calendar month after your employees became active members (so after the opt out period has ended).
So for example, if your staging date was July 1st and you assessed your staff and uploaded their contributions on the 28th July, we would take payment on 6th September.
Please note, this will mean in some cases that the August contributions would also be collected at the same time.
If you have an existing account with us but have recently hired a new member of staff, the delay in taking payment will only be applied to new members.
We will collect contributions as per normal for all your existing members on the 6th but the contributions for the new member will be taken on the next available payment date after the opt out period has ended (6th, 16th or 26th).