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NEST Payment Group and Payments Source

Article ID
11760
Article Name
NEST Payment Group and Payments Source
Created Date
6th April 2017
Product
IRIS PAYE-Master, IRIS Payroll Business, IRIS Bureau Payroll, IRIS GP Payroll, IRIS Payroll Professional, Earnie, IRIS Earnie IQ
Problem

Where do we find our NEST Group and Payment Source?

How should I configure my NEST Group and Payment Source?

Resolution

Where do we find our NEST Group and Payment Source?

These are the Group and Payment Source you configured on your NEST account.  You must enter the details exactly the same in the payroll.

Example:

If you configured a Group on your NEST account as ‘Group 1’, you should enter it exactly the same in your payroll software and not ‘group1’

How should I configure my NEST Group and Payment Source?

This is entirely up to you. 

Group – is a way of grouping employees who have the same pay frequency, contribution rate and earnings basis.  For example, ‘Weekly’, ‘Monthly’, ‘Admin’ or ‘Sales’.  If all your employees are paid in the same pay frequency, have the same contribution rate and earnings basis, you only need to configure one Group and apply it to every employee affected.

Payment Source – is the way you send money to NEST.  The normal type of Payment Source is Direct Debit.  You can also pay NEST by Debit Card or Credit Card.

For more information on Group and Payment Source configuration see: 

https://www.nestpensions.org.uk/schemeweb/NestWeb/public/helpcentre/contents/how-to-set-up-nest-to-suit-your-workforce.html

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