Jarvis teams with Octopaye to streamline pensions for contractors and temporary workers
Jarvis, a pension fintech that empowers employees to actively plan for their ideal retirement, has partnered with Octopaye, a HMRC-recognised cloud platform that simplifies complex payroll processes.
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The partnership will offer streamlined payroll and pension solutions for businesses managing temporary workers and contractors.
Contractors and freelancers represent up to 12% of the global workforce, yet many lack access to conventional workplace benefits like pensions. The integration will allow these employees to receive accurate pension contributions based on their varying workloads and project durations. Octopaye's platform simplifies adjustments to payroll schedules, ensuring these updates are reflected in pension calculations.
Through connecting Jarvis' pension solution with Octopaye's payroll system, users will have access to salary sacrifice management. This allows employees to divert more money into their pensions and employers to cut overheads by reducing National Insurance Contributions (NICs) and alleviating tax burdens.
Royden Greaves, CEO and Founder of Jarvis, said, 'Contractors, freelancers, and temporary workers often lack access to traditional pension schemes due to the nature of their work. 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.'
Rob Gillman, Commercial Director at Octopaye, said, '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.'
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