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 compliance deadlines
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:
- 1st July 2025 — any company with over 50 employees
- 1st July 2026 — companies with 15 or more employees
- 1st July 2027 — all other employers
Setting up a workplace pension scheme can take 3 months, so it is advisable that affected companies act now to stay ahead of the upcoming deadline.
What the integration does
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. There is also a setup guide on our downloads page.
For more information about setting up a workplace pension scheme, please call Sovereign Pensions on 200 76172 or visit gibraltarpensions.com.