Setting Up a Pension Scheme

Workplace pensions are a way of saving for retirement arranged by an employer. They are sometimes called 'company pension schemes' or 'occupational pension schemes'.

How to set up a pension scheme?

To set up a pension scheme in Workmax, follow these steps:

1. Sign in to your "Workmax" account with an admin account.
2. Go to the "Pensions" section.
3. Click on the "Add Pension Scheme" button.
4. Enter the details
   • Pension Provider
   • Pension Type, choose from the options:
     • "Net Pay Arrangement"
     • "Relief at Source"
     • "Salary Sacrifice"
   • Eligibility for Auto-Enrolment (Yes/No)
   • Default Pension Scheme (Yes/No)
5. Click on the "Save & continue" button.
6. Enter the provider details
   • Account Number
   • Staging Date
   • Payment Source (Nest)
   • Website (Optional)
   • Telephone Number (Optional)
   • Address (Optional)
   • Payroll and Pension Data Interface (PAPDIS) Details
     • Version, choose from the options:
       • "PAPDIS 1.0"
       • "PAPDIS 1.1"
     • Provider ID
     • Employer ID
   • Opt-Out Window
7. Enter the administrator details
   • Full Name
   • Email Address (Optional)
   • Phone Number (Optional)
   • Address (Optional)
8. Click on the "Save & continue" button.
9. Review the details and click on the "Save" button.

Workmax will now set up the pension scheme for your company. Your employees will be automatically enrolled in the scheme, and you can start contributing to their retirement savings.