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What reference should I use for paying my pension contributions?

(employers paying outside their direct debit)

Paying Contributions by Bank Transfer

 

Employers choosing not to use SuperTrust’s direct debit service can make a bank transfer to the Master Trust bank account. You will find these details within your Employer Portal at Chart of Setup > Payment Options >  BACS or Internet Banking.

 

You must ensure to quote your Employer Pension Scheme Reference Number (Group Key) in addition to the Cost Centre reference (Payroll Key) provided to you. If you have multiple locations, offices or permissions setup for your SuperTrust workplace pension, failure to quote the relevant Payroll Key will result in the payment being incorrectly allocated.

 

Bank:

Account number:

Account name:

Sort code:

Ref: *

xxxxxxxxxxxxxxxxxxxxx

xxxxxxxx

xxxxxxxxx Master Trust

xx-xx-xx

Employer ID/Group Key

 

* Please note this reference is unique to your employing entity and must be quoted when making a payment.

It is made up of two components:

Employer ID - Unique Employer Reference

Group Key - Unique Reference for the Payroll Centre (Small to Medium Sized Employers this will likely match your Group Key above, please contact your Support Agent for further details).

 

How to pay contributions to the SuperTrust?

(for employers)

 

When you submit your pension contributions each pay period, you are required to pay the contributions to the SuperTrust Pension Scheme.

 

There are two methods available to participating employers:

 

Bank Transfer - £3.00 monthly admin charge

Payment must be received on or before 19th of the following tax month. This is a statutory deadline. Failure to pay on time may result in a penalty from the Pensions Regulator.

 

Direct Debit - Free

Payment notifications are issued by SuperTrust on 6th each period based on payroll uploads during the tax month up to the previous 5th at 11.59pm. Funds are typically debited from your bank account between 12th and 19th each month.

When should you pay contributions to your workplace pension?

 

Payroll files must be submitted to SuperTrust every pay period on or before your employee’s payday.

The Super Trust system will consolidate all payroll files into tax months, following similar rules to the way you pay monthly PAYE/NIC to HMRC. Payroll submissions that are early (or late) will be allocated to the actual period you make the upload.

 

Based on the selected pay method, your payment deadlines may differ:

 

Bank Transfer - £3.00 monthly admin charge

Payment must be received on or before 19th of the following tax month. This is a statutory deadline – failure to pay on time may result in a penalty from the Pensions Regulator.

 

Direct Debit - Free

The employer cannot define the collection date/ frequency for pension contributions. Payroll files uploaded from the last 6th of each month are frozen at 23.59 on the 5th.

SuperTrust’s Direct Debit application will collect the money from your bank account between 12th and 19th each month.

 

 

Note

Changes to contribution amounts submitted to SuperTrust can be made by deleting the payroll file and submitting an amended file, provided this is before the 23.59 on 5th monthly deadline. Amendments made after this date must be made to the following pay period.

 

If you have made a material error that cannot be amended in a later pay period,

please contact support@supertrust.co.uk

 

You can view and print the monthly auto enrolment payroll calendar here.

 

 

 

Information provided on the site is merely guidance that may change in line with UK law and regulations. Users must not consider this to be financial advice or their sole resource when making any financial decision. SuperTrust UK Master Trust is regulated by the Pensions Regulator (PSR Number: 10274116) as a provider of workplace pension schemes. All investments of the pension scheme are regulated by the Financial Conduct Authority (FCA). The trustees understand that based on correspondence with the FCA, scheme members have access to compensation under the rules of the Financial Services Compensation Scheme (FSCS) in the event of the insolvency or default by our investment providers.

©Supertrust UK Pensions Trustees Limited

Website by Raid-10

Information provided on the site is merely guidance that may change in line with UK law and regulations. Users must not consider this to be financial advice or their sole resource when making any financial decision. SuperTrust UK Master Trust is regulated by the Pensions Regulator (PSR Number: 10274116) as a provider of workplace pension schemes. All investments of the pension scheme are regulated by the Financial Conduct Authority (FCA). The trustees understand that based on correspondence with the FCA, scheme members have access to compensation under the rules of the Financial Services Compensation Scheme (FSCS) in the event of the insolvency or default by our investment providers.

©Supertrust UK Pensions Trustees Limited

Website by Raid-10