Jarvis, a pension fintech supporting employees planning for their ideal retirement, is teaming up with Octopaye, a HMRC-recognised cloud platform that simplifies complex payroll processes, to offer streamlined payroll and pension solutions for businesses managing temporary workers and contractors.
By connecting the pension solution from Jarvis with the Octopaye payroll system, employees will receive accurate pension contributions based on their varying workloads and project durations
Although contractors and freelancers represent up to 12 per cent of the global workforce, many lack access to conventional workplace benefits like pensions. Octopaye’s platform aims to simplify adjustments to payroll schedules, ensuring these updates are reflected in pension calculations.
“Contractors, freelancers, and temporary workers often lack access to traditional pension schemes due to the nature of their work,” explained Royden Greaves, founder and CEO of Jarvis. “With this in mind, managing pension contributions for these individuals can be challenging. Our partnership with Octopaye will provide employees and employers with the confidence that they need in their financial planning, ensuring employees receive the right pension contributions that align with their financial goals while allowing employers to alleviate their tax concerns.”
Through the integration, users will also gain access to salary sacrifice management. This enables employees to divert more money into their pensions and employers to cut overheads by reducing National Insurance Contributions (NICs) and alleviating tax burdens.
Rob Gillman, commercial director at Octopaye, also added: “We love the simplicity. We did our research and looked for a pensions partner that engages technology whilst making the whole process of managing pensions simple – enter Jarvis. We never look for partners that shout the loudest, that’s just not our style. Jarvis puts pension planning at your fingertips – intuitive and straightforward. They are the ideal partner for Octopaye.”
