Using our tools to assess your employees and calculate their pension contributions.
If your payroll application does not have a built in pension module, you may not have the ability to assess your staff and then calculate their pension contributions. In which case you can use the assessment and pension calculation features in your Smart Pension account. Our tools are free to use, so you just need to tell us how much your staff have been paid and when they were paid and we do the rest.
Once you are happy with the calculations you can download a spreadsheet of your employees' pension contributions and deduct these from your payroll before you submit to HMRC. On the 6th of the month, we then request payment from you via direct debit and invest the total into the pension scheme for each of the members for your scheme.
The video below explains how to do this.
Calculate pension contributions with Smart Pension.
This video demonstrates how you can use our platform to assess your employees and then calculate their pension contributions ready to go back into your payroll application. This is designed to work in conjunction with payroll software that does not support pension assessment and calculation.
Other options to calculate and submit pension contributions.
You may already have a payroll package with a built in pension module. These features are now more common and let you assess your employees and calculate their pension contributions during your pay run. Once complete you can export a CSV file with the final calculations to be uploaded to your Smart Pension account.
If you want an easy life then choose a payroll provider that has integrated with our API which means you can submit your pension contributions at the click of a button. This works just like RTI submissions to HMRC, only the pension contributions go directly to your Smart Pension account and we do the rest.
Managing Director of Smart Pension, Will Wynne, and Anne- Marie O'Leary, editor-in-chief of parenting site, netmums.com, discusses auto enrolment on Sky News and in particular, how it will affect employers who hire home help such as nannies, and don't consider themselves to be employers.