Transfers and future-dated payments from your Tide account are sent as Faster Payments.workplace pension scheme for employees to save for their retirement. At the moment, we only connect directly with Nest Pensions, but you can still use another provider, if you prefer.
If you set up a transfer, the payment should arrive in your payee's account within minutes. This will depend on where you're sending the money. Some banks can take two hours or more to process Faster Payments so it might take up to four hours to arrive with your payee.
If you've set up a transfer and it still hasn't arrived after four hours, message us and we'll do our best to help. In the app, go to Support to send us a message.
Good to know: Tide to Tide transfers are instant.
Be aged 22 to State Pension Age.
Earn least £10,000 gross per year (£833 per month or £129 per week)
When the pension scheme is connected, we’ll automatically assess eligibility and enroll eligible employees within their first month at your company. They’ll start on the standard contribution split, based on their gross salary:
5% paid by the employee
3% paid by the employer
UK law requires a minimum of 8% of the employee's salary to be contributed to pension, but it can be more.
How do I connect Tide Payroll to Nest Pensions?
Log in to Tide on the web and head to: Admin > Payroll > Settings > Integrations > Nest Pensions and follow the steps from there.
Then to configure your pension scheme: Admin > Payroll > Settings > Pension > Configuration
Can I connect Tide Payroll to another workplace pension provider?
Not at the moment, however, if you prefer a different pension provider, you can still adjust your pension to match the configuration of your chosen provider, by going to: Admin > Payroll > Settings > Pension > Configuration
You’ll need to export the Pensions and Payroll Data Interface Standard (PAPDIS) files and upload these to your provider’s platform.
For the download, head to: Admin > Payroll > Settings > Downloads > Pensions > Download the PAPDIS.csv file for the relevant period
