It is important that you get your payroll system and processes ready ahead of your duties start date. You will need to liaise with your payroll provider to check that it is ready to carry out auto enrolment tasks such as monitoring employee ages and earnings to make sure you’re paying the right amounts and that you can create contribution reports.
To avoid any miscalculations or errors you will need to check the contribution basis is set up correctly. Cushon Master Trust uses the net pay arrangement for tax relief. This means that contributions are deducted from gross pay (before tax).
Ensure that your payroll is set up to deduct contributions using the net pay arrangement. For further information on net pay and the difference between ‘relief at source’ (an alternative contribution deduction method not supported by the Cushon Master Trust), see RAS and Net pay explained.
During each pay run you must produce a pension contributions report in the format required by Cushon Master Trust. The pension contribution report is generated from your payroll software and uploaded into the Employer Pension Portal every pay period. Ensure that your payroll is set up to produce a pension contribution report.