You’ll only pay the standard 20p transfer fee when you add money to your account. If you’re on a membership plan that includes free transfers, ‘Add Money’ payments will count towards the free transfers offered by your plan.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.
Each pay day, a percentage of the employee’s salary is automatically put into the pension scheme, and the employer can add to that too.
Tide Free doesn’t offer free transfers
Tide Smart - 20 free inbound transfers
Tide Pro - unlimited free transfers
Tide Max - unlimited free transfers
Fees are billed as part of our monthly billing process, and will be included in the total fee amount summary on your bank statement.
If your Banking Provider usually charges you fees for making payments, you will have to pay those fees to your Banking Provider in the usual way.
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
