The current marketplace has a variety of solutions for Auto Enrolment, offering different levels of support and guidance.
But it all adds extra pressure to existing workloads.
So is researching and deciding on the right solution for your clients proving to be an unwanted headache?
Lifetime’s solution provides a bespoke service that helps businesses get to grips with Auto Enrolment, guiding them through the full process from Assessment to Implementation and onward regulatory duties.
Our experience has shown that some employers are inadvertently under the illusion that once the scheme is set up that’s it – employees just pay in. The new Pension Law requires employers to carry out additional administrative and reporting duties which must meet specific guidelines and timescales.
- HR issues (e.g. employment & non-employee contracts, employee data accuracy, new joiner processes, staff communications, etc)
- Payroll issues (e.g. pay cycles, reference periods and payroll cut-offs, payroll data accuracy, refunds, contribution calculations, processes which span tax years, etc)
In addition, there will be a need to address matters surrounding schemes and scheme providers, and systems, for example:
- Pensions issues (e.g. impact on existing pensions schemes & their members, whether to use an existing scheme or a new scheme for automatic enrolment, etc)
- Information Technology (IT) issues: (e.g. computer systems, reliability & networking issues, data standards to allow different software/systems to work together, etc)
- Procurement issues: (e.g. any plans to buy new IT systems/software or pensions schemes or upgrade/change existing systems/software, etc)
- Financial issues: (e.g. forecasting and budgeting for any impact on costs, etc)
Our specialist Auto Enrolment Team are experienced in providing a robust solution, a solution which encompasses all the new regulatory duties which would otherwise fall upon the shoulders of your clients.
This means your clients can continue running their businesses without the worry of Auto Enrolment.
To find out more about Lifetime and Auto Enrolment contact one of our Specialists on 01226 208600 or you can email us firstname.lastname@example.org
You can also view more details at www.lifetime-fm.com/home.aspx