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What information does a payment schedule include?

A payment schedule will contain the following information for a specific group:

  • pension scheme name
  • NEST’s pension scheme registry number - you’ll need to provide this to The Pensions Regulator (TPR)
  • employer organisation name
  • group name
  • worker contribution percentage
  • employer contribution percentage
  • frequency of payment
  • payment due date

Your payment schedule includes information about the level of contributions paid for members in that group, how often they’ll be paid and by what date. The minimum contribution rates you have to pay by law will increase in stages until 2019.

A payment schedule will set out future contribution rates that will be expected from 6th April 2019 onwards. If you’ve chosen to pay the 2019 minimum contribution rates straight away there’ll be no increase shown in your payment schedule.

You can see the full list of the legal minimum contributions if you are using qualifying earnings or certification.

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