Business adviser's online guide to automatic enrolment. Automatic enrolment employer responsibilities. The Pensions Regulator. Workplace Pensions - Automatic Enrolment. Witter / ? Workplace-defined-contribution-pensions-guide. Recording Information. The advice question – what do SMEs have to say about auto-enrolment? - Citywire. Skip to content Other Citywire websites New Model Adviser® Powered by Citywire Paradigm targets advice gap with simplified launch.
Employers lack knowledge to make auto enrolment decisions. A staggering 89% of IFAs are concerned that employers lack the knowledge to make informed decisions on the appropriate auto enrolment solution for their employees according to new research conducted by Defaqto on behalf of NOW: Pensions.
Of the 264 advisers questioned, nearly two thirds (65%) think that employers are ‘unengaged’ with auto enrolment. In addition, just 5% of those surveyed believe that employers are fully aware of their auto enrolment obligations as set out by The Pensions Regulator with 95% stating that more should be done to ensure employers understand the long term implications of their decisions on auto enrolment. When it came to who should be responsible for educating employers, over three quarters (77%) of advisers who think more should be done say responsibility sits with the government, 75% believe it is down to The Pensions Regulator and 23% think the onus should be on providers. Simplifying sign up. Lighthouse unveils alternative to Nest. Listed UK advisory group Lighthouse is set to launch an automatic enrolment solution on 3 March with charging tariffs being published on 25 February.
The Lighthouse Pensions Trust is a multi-employer Pensions Master Trust using the “BirthStar age-based target date funds”, managed by Alliance Bernstein, and professional trustee services provided by Bridge Trustees Limited, a professional trustee company owned by Eversheds LLP. Nest: Nine in 10 firms will seek auto-enrolment advice. More than 90 per cent of employers intend to seek advice on how to implement auto-enrolment and which scheme they should use, as well as to help with the on-going processes of complying with auto-enrolment on a monthly basis, the National Employment Savings Trust has claimed.
Speaking to FTAdviser, John Taylor, Nest’s managing director for customer and proposition, says Nest’s research highlights that there is a “clear opportunity” for advisers in this new environment. Registration. Services « AutoEnrolment Advice AutoEnrolment Advice. Many advisers struggle with knowing how to profitably deal with auto enrolment and in a process driven and systemised fashion.
That’s where this solution helps. Over the next 10 months all firms with 62-799 employees will have reached their staging date, highlighting the very small window of opportunity for advisers. Especially when you consider it takes on average a minimum of 6 months from initial agreement to ensuring a firm is compliant. If you’re ready to start taking advantage of this staggering opportunity and are looking for: We’ll deduct the cost of your membership off your first case, so effectively it won’t end up costing you a penny.
What to expect when you sign up ? You’ll receive an email with your membership login details (please check your spam folder in case it ends up there). You’ll get immediate access to a range of online tools which include: Still unsure? Pension raps and bacon rolls: How the DWP is promoting auto-enrolment. 11 October 2013 2:15 pm | By Tom Selby While pensions minister Steve Webb talks about automatic enrolment as a “quiet revolution”, his department is (to paraphrase Work and Pensions Secretary Iain Duncan Smith’s infamous speech) “turning up the volume” in promoting the reforms to the UK public.
From adverts featuring TV stars to branded sandwich bags, the DWP is pulling out all the stops to ensure the £11m auto-enrolment marketing budget it squeezed out of the Treasury is well spent - and in the process consign memories of the ‘stakeholder sheepdog’ to the past (you can see the original advert here). Below, we run the rule over the Government’s workplace pensions communications campaign to date and ask what more could be done to raise awareness of the reforms.
The big(ish) budget TV advertising campaign. A guide to auto enrolment for SMEs. As part of Small Business Advice Week we are running a series of articles with helpful advice and tips for SMEs. Today, Graham Wingar talks through the basic outline of the government’s changes to pensions and your responsibilities as an employer. In order to enhance personal pension funding, the government has drastically changed the laws and regulations around pension provisions supplied by employers. This article will give you a basic outline of these changes and your responsibilities as an employer. The government has changed details from the point of first considering auto enrolment until now so it is important that you keep up to date with any changes in legislation going forward. “Ensuring you have the most suitable pension scheme in place is paramount in order to offer a quality benefit to your employees while reducing the costs and time associated with administering the scheme” Pension Playpen - Top-Thinking - Pension PlayPen lunch - can we stage auto-enrolment without advice?
August is the silly month when nothing much happens.
Well unless you are coding a mammoth self-service tool that aims to be the answer to 1.2m small company's pension challenges. So while the world watches the cricket and puts their feet up with the kids, the daunty band of designers, coders , operating managers- oops and me, worry over "business logic" "employer journey's" and "output screens" in readiness for our forthcoming launch. What's so unusual about our project is the precision of our market segmentation. The breakdown of the 1.2m employees into monthly staging dates spread over the next four and a half years means we are not building one model but a succession of subtly changing models each targeting a slightly different customer.
Our aim is to put the employer back in control of the decision on "what workplace pension should we have". The temptation is to see the market as homogenous and build a solution for everyone. By Henry Tapper, Founder & editor. SMEs want auto-enrolment advice for free. Findings by The Pensions Regulator (TPR) reveal that 59% of medium, 65% of small and 59% of micro employers surveyed indicated their intention to obtain auto-enrolment support from outside their business but “there continues to be resistance” with at least 50% of employers in each group, saying they would be unwilling to pay additional fees.
Explaining that they “are generally less likely to have experience of pension provision and may lack the necessary in-house HR, payroll, finance and project management expertise to prepare for automatic enrolment”, TPR warns that finding advisers offering high quality, value for money support will be “more challenging” for those that leave their preparations late.