To help employers set up and maintain workplace pension schemes, we are delighted to announce a new partnership with Sovereign Pension Services.
We have partnered with Sovereign Pension Services (SPS), the Rock’s largest Pension Provider, to develop seamless integration between the EasyPay Payroll system and SPS systems.
The Gibraltar Private Sector Pensions Act 2019 details that companies will need to provide a workplace pension plan to their staff. These new employer obligations are being implemented by the Gibraltar Government in phases.
This year, 2025, any company with over 50 employees will need to implement a Workplace Pension scheme by the 1st July deadline.
Companies with 15+ employees will need to comply by next year, 1st July 2026.
All other employers have two more years - 1stJuly 2027.
The setting up of a Workplace Pension Scheme can take 3 months, so it is advisable that affected companies act now to stay ahead of the upcoming deadline.
The new integration will save employers significant ongoing administrative work. A new and automatic payroll interface makes it effortless to onboard employees and report the details of pension contributions to SPS.
If you have an existing Pension scheme with Sovereign, you can find details on setting up and using the interface in the EasyPay online reference help file.
For more information about setting up a Workplace Pension Scheme, please call Sovereign Pensions on 200 76172 or visit www.gibraltarpensions.com