The tool to be provided by the Pensions Regulator for HMRC Basic PAYE Tools (BPT) users will only handle qualifying earnings schemes. It will not do communications nor will it prepare files for the pension companies. It will be an Excel spreadsheet which will need to be populated each pay period so that assessments and calculations can be performed. The results will then need to be input back into BPT. Then the BPT user will need to log in to the pension scheme's web portal and manually input the figures. There will be extra time required in this process and there will be potential for error.
This combined with the fact that HMRC Basic PAYE Tools does not prepare payslips means that the proposition for commercially available fully integrated payroll and auto enrolment software is much stronger.
BrightPay costs £89 (plus VAT) per annum* and will automatically import the file from HMRC Basic PAYE Tools meaning there is no time involved in setting up.
In addition, BrightPay will include the NEST API before January 2016 meaning NEST registered employers will not even need to log in to the NEST portal when submitting the contribution file each pay period.
* Single employer, unlimited employees. BrightPay is free for employers with 3 or less employees.