Over the next 2 years every employer must automatically enrol their workers into a qualifying workforce pension scheme and make contributions towards it.
Auto-enrolment pension for hair, barber & beauty salon owners
The NHF has worked with leading independent financial advisors Wren Sterling and leading workplace pension provider Salvus Master Trust to provide a simple and cost-effective auto-enrolment pension scheme, tailored for the hair and beauty industry.
If you're looking to manage your responsibility to offer a pension scheme yourself, the Salvus Master Trust is perfect for you. Designed to be used as a self-service scheme, it is possible for you to comply with your auto enrolment obligations using the website alone.
The NHF workplace pension solution is open to NHF members and non-members salons and barbershops.
NHF Members please contact us on 01234 831965 for your Member discount code.
NHF workplace pension solution fees
Contact us on 01234 831965 for your Member discount code.
Annual management charge 0.60%
The Salvus Master Trust pension scheme provides a flat annual management charge to all scheme members which is the only charge to employees for investing in the default fund. Other funds may have a higher annual management charge.
Preparing for your auto-enrolment pension
What do I need to do to prepare for auto-enrolment for my salon or barbershop?
1. Find out your staging date
- Know your staging date.
- Click here to find out your staging date have your PAYE reference to hand. It’s on the letters you’ve received from the Pensions Regulator about auto-enrolment.
2. Assess your salon workforce
- Eligible workers must automatically be enrolled in a pension scheme.
- An ‘eligible worker’ is:
- Aged between 22 and state pension age.
- Working or ordinarily working in the UK.
- Earning more than £10,000 a year.
- Workers who are not eligible still have the right to opt in.
3. Review your salon pension arrangements
- Review your existing hair & beauty pension scheme.
- Choose a qualifying pension scheme.
- The NHF workplace pension solution is:
- Open to NHF Members and non-members.
- Guarantees acceptance for hair, barber and beauty salon owners.
- Free, easy to use software to administer the scheme.
- Has ‘Master Trust Assurance Framework’ accreditation.
- Dedicated auto-enrolment helpline.
- A fully governed default investment fund.
- Access to independent financial advice from Wren Sterling (NB charges may apply).
|Watch our How-to NHF workplace pension solution videos here.
4. Communicate the changes to all your salon workers
- It’s the employer’s duty to write to your salon or barbershop employees and let them know how they will be affected by the change.
5. Automatically enrol your ‘eligible jobholders’
- You will need to supply details to the pension providers of the eligible workers so they become a member of the pension scheme.
6. Register with the Pensions Regulator and keep records
- You need to inform The Pensions Regulator that you’ve fulfilled your duty.
- Keep records on the enrolled workers and the contributions paid.
7. Contribute to your workers’ pensions
- Now that you’ve set up your pension scheme you now need to contribute to the chosen pension scheme on the behalf of your salon employees.
NHF workplace pension solution information
Free NHF Guide to Workplace Pensions
|Looking for more help and information? Download our free NHF Guide to Workplace Pensions for the hair, beauty and barbers here.|
Further NHF workplace pension solution information
Click on the link below for more information on who is eligible for the scheme.
Click on the link below for more information on postponing auto-enrolment for up to three months for some of your staff.
Test your date ahead of your staging date
It is vital to ensure reports from payroll are in the correct format ahead of your Staging Date. Once you have prepared either a Pay Reference Period or Payroll Data Feed file ready for staging, you can test the file here to ensure it is compatible with the Salvus Master Trust platform.
If you would like further help or advice please visit the pensions helpline