1. First, connect your pension scheme to Onfolk
The pre-requisite to moving most of your management tasks to your Onfolk portal is to connect your pension scheme. We connect with Nest, Smart Pension, People's Pension and a few others as well.
If you're not able to connect your pension scheme with Onfolk, head to this article.
2. View and update your company pension scheme
You can directly manage your pension scheme here (Settings > Pensions).
Once your scheme is set up and you've connected it to your Onfolk account, you can view and edit your scheme's configuration directly within the portal.
⚠️ Your pension scheme settings won't automatically sync with your pension provider's portal unfortunately. Whenever you edit anything in this section, make sure it reflects how you've set it up within your pension provider's portal so calculations are accurate in payroll.
Updating your pension scheme within Onfolk
1. Go to your Pension settings tab
2. Click on "Update"
3. Update any of the following:
Scheme's taxation: this determines whether contributions are deducted before or after taxes
Earnings basis: this setting sets how deductions are calculated
Default company contribution: this is where you can update the default company's pension contribution, 3% being the minimum.
Default employee contribution: this is the default contribution employees will be auto-enrolled, which they can decide to increase (or decrease) within their profiles as long as the sum of employer/employee contributions is minimum 8%.
Next re-enrolment date: for opted-out employees, you'll need to re-enrol them into your scheme within 3 years of them initially opting out. As this is a manual task, you can set the date at which you'd like us to re-enrol all opted out employees for your scheme.
4. Click 'Save' - done ✅
3. View your employees pension enrolments and opt-outs
You can directly manage your pension scheme here (Settings > Pensions > Employees).
This section gives you a holistic view of everyone in the company, who's enrolled/opted out and what their contributions are.
Updating an employee's pension contribution percentages
Employees can update their own pension contribution within their Onfolk profile.
If however you wish to do this for them, this is our guide on how to update pension contributions for an employee.
4. Opt out employees from the company pension
The only action you won't be able to do directly in Onfolk is opting out employees from your company's pension scheme. This will need to be done by the employee, or pension scheme admin directly in the pension provider's portal.
Check out our guide on how to opt out employees from your pension scheme.