How does an Insolvency Practitioner find out the owed contributions on an insolvent business?

This article is to help the Insolvency Practitioner (IP) or Official Receiver (OR) provide us with the outstanding contribution amounts to allow us to allocate contributions accurately.

Nest generates contribution schedules for each pay period. In the normal operation of their Nest account, the employer calculates the contributions based on the members’ earnings each pay period and then send the details to us.

Once you’ve accessed the account, we’ll send a message to your Nest secure mailbox which will have the details of the outstanding contributions based on certain assumptions:

• We'll expect contributions for all the members that were on the last paid contribution schedule on our system.
• If there are unpaid contribution schedules and the employer has told us how much to expect but not paid it, we will tell you those amounts.
• Where there are unpaid schedules and the employer has not given us any data, we will calculate how much is due based upon the last paid schedule.

You will then need to create an exception schedule(s) to let us know about the contributions that are to be paid. For more information please see How do I make and pay an exception schedule for a business that’s insolvent and has ceased trading?