Nest to offer ‘one click’ pensions

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Nest to offer ‘one click’ pensions

The National Employment Savings Trust has integrated Iris software to offer new functionality meaning ‘one click pensions’ and less complexity in auto-enrolment.

At present, businesses sending information the Nest need to log-in to upload files in the correct CSV format to the site.

The new system will see the file created, formatted and sent to Nest in one click, without having to log in to a Nest account, with software provider Iris saying this will save businesses an estimated hour per payroll run and accountants an estimated hour per client.

Mark Paraskeva, chief executive of the SME division at Iris, explained that automatic enrolment can be a very time consuming task when carried out manually, with small and micro-businesses particularly feeling the strain.

“With 1.8 million businesses left to stage, it is vital this process is made as simple and accessible as possible to ease the strain.

“This is why we’ve worked with Nest to provide this integrated functionality, meaning significant time savings can be felt by all business and accountants using this service. This time can then be spent adding value to the business and concentrate on what’s most important – business growth.”

Nest has around 2.5 million members and over 30,000 employers, making it one of the largest auto enrolment providers in the UK.