What is a payment due date?

The payment due date is the date by when we must receive the contributions, or a valid reason for making a zero contribution for each employee in a pay period.

If you aren’t sure what your payment due date is, you can view your payment due date on the contribution schedule.

You need to submit the contribution schedule and any payment at least five working days before your payment due date, or it will be considered a late payment. This is because it can take up to five working days for the payment to be processed and applied to the employees’ accounts.

You must pay any contributions by your payment due date, unless you’re holding on to contributions during the employee’s opt-out period. If not, Nest may be required to report your business to The Pensions Regulator.

If your current payment due date doesn’t allow you enough time to pay contributions, you can change it. Remember, UK pension regulations state that the latest you can set your payment due date is the 22nd of the month following pay day.

To do this, you’ll need to create a new group and then move your employees into the new group. To create a new group please see How do I add a new group once I’ve set up with NEST? To move workers to the new group, please see How do I change a worker’s group from Manage workers?