Helping your business with auto-enrolment

Transcription

1 Helping your business with auto-enrolment Saving you time and resource, and reducing your risk in partnership with Johnson Fleming Group Pensions Group Risk and Healthcare Service Provision

2 Complex and time consuming We understand that the delivery of auto-enrolment can be complex and places additional pressure on your business. Whilst there are many solutions that claim to be able to manage auto-enrolment, these frequently fall short, leaving you with the task of ensuring you are compliant in meeting your employer obligations. The Pensions Regulator has seen employers risk becoming noncompliant, because they wrongly assumed their business adviser was doing this for them. The Pensions Regulator - March 2016 Too much focus on cost There are a number of options available on the market, but we all know that you get what you pay for. Be careful not to focus on price alone. Helping your business with auto-enrolment

3 Selecting the right solution for your business The risks of responsibility Auto-enrolment brings around 30 new employer responsibilities and many of these have to be actioned every pay reference period. As an employer, you are responsible for the delivery of auto-enrolment and if it goes wrong, you will be accountable for putting it right, including the cost of doing so. Employers and their advisers should be clear who is completing what automatic enrolment task and advisers should be clear about what services they offer. The Pensions Regulator - March 2016 How much extra capacity do you have? Many clients significantly underestimate the time and workload of running auto-enrolment themselves. A recent independent report* suggests, for SMEs, the time taken can range from 4.5 hours to 4 days per month. *Automatic enrolment: The payroll perspective. Dr Iain Clacher. September 2015 Saving you time and resource, and reducing your risk

4 An overview of our 3 core services Supported Express Managed 1 employee or more 1-20 employees employees Initial set-up Initial set-up Initial set-up Assisted set-up System configuration Data cleansing and mapping Qualifying pension scheme Assisted set-up System configuration Data cleansing and mapping Qualifying pension scheme Assisted set-up System configuration Data cleansing and mapping Qualifying pension scheme from 1,750 from 1,499 from 1,750 Monthly administration Monthly administration Monthly administration Self managed Task alerts Produces communications Project management Fully outsourced Full audit history Liaise with the Regulator Project management Fully outsourced Full audit history Liaise with the Regulator Project management from 10 per month 99 per month from 199 per month All fees are subject to VAT, annual RPI increases and payable directly to Johnson Fleming by Direct Debit mandate. Helping your business with auto-enrolment

5 Initial set-up Setting up an auto-enrolment scheme will be one of the most important aspects of your auto-enrolment project. We ensure that you get it right first time, reducing the risk of non-compliance in the future. Set-up includes: Assisted set-up with our dedicated auto-enrolment team. We don t just provide software and hope you get it right. A system configured to meet your specific requirements; not a one size fits all approach. Data cleansing and mapping to ensure that your data is fit for purpose, leading to a smooth and compliant delivery going forward. If you make a mistake here and run your project for 12 months, processing the wrong data each time, not only will you bear the cost to rectify the errors, but you could face penalties from the Pensions Regulator. David Roderick, Development Director, Johnson Fleming Sourcing and establishment of a qualifying workplace pension scheme Saving you time and resource, and reducing your risk

6 Supported service From 10 per month This service gives you access to our purpose built autoenrolment system that our team of experts use daily, allowing you to administer the whole process yourself. Requires extremely organised and methodical working patterns and diligence in record keeping. What s included: Assisted set-up Initial upload of your employee data into the system Full system configuration to your business. Qualifying workplace pension This service enables you to: Upload your pay data / earnings report every pay reference period Validate and check your data inputs for accuracy Run employee assessments in a single click Issue personalised and branded statutory communications Produce payroll deduction schedules for your payroll provider Produce contribution reports to send to provider Keep a full audit trail of your auto-enrolment project. The benefits of this service: Allows you to administer auto-enrolment to keep costs down Tells you what to do, how to do it and when you need to do it Works with all pension providers Allows you to use variable postponement periods and certification basis Assists with monthly and weekly payrolls Enables you to complete certificate of compliance when required. Time required: 2 hours + per month Helping your business with auto-enrolment

7 Express service Only 99 per month If you have 20 employees or less, this is the quick and simple way to compliantly deliver your auto-enrolment duties with a minimum amount of involvement on your part. Pension scheme included To make things easier, this service includes a Group Personal Pension with one of the UK s leading providers, with a very competitive annual management charge of 0.5%. What s included: Simplified assisted set-up Initial upload of your employee data into the system System configuration to your requirements Qualifying workplace pension Complete certification and liaison with the Pensions Regulator. Each month, we will: Upload your pay data / earnings report Validate and check your data inputs for accuracy Run assessments on your behalf Issue personalised and branded statutory communications Check output and resolve any queries Issue payroll deduction schedules to your payroll provider Produce contribution reports and issue to provider on your behalf Keep a full audit trail of your auto-enrolment project This arrangement is only available through Johnson Fleming and illustrates the high regard the provider holds for our administration delivery. Provide query resolution. The benefits of this service: A fully outsourced solution Includes a high-quality qualifying workplace pension scheme Addresses all of your compliance needs Assists with any payroll frequency Quick and easy to use. David Roderick, Development Director, Johnson Fleming Time required: 15 minutes per month Saving you time and resource, and reducing your risk

8 Managed service From 199 per month This service quite simply takes the project off your plate. It has been designed to reduce your workload and risk exposure to a minimum. It provides you with everything your business needs to deliver a fully compliant autoenrolment solution for 1 to 250 employees. What s included: Assisted set-up Initial upload of your employee data into the system Full system configuration to your requirements Complete certification and liaison with the Pensions Regulator. Qualifying workplace pension Each month, we will: Upload your pay data / earnings report Validate and check your data inputs for accuracy Run assessments on your behalf Issue personalised and branded statutory communications Check output and query resolution Issue payroll deduction schedules to your payroll provider Produce contribution reports and issue to provider on your behalf Keep a full audit trail of your auto-enrolment project Provide full ongoing audit and resolve any queries. The benefits of this service: A fully outsourced solution minimizes your involvement Allows you to use variable postponement periods and certification basis Assists with any payroll frequency Addresses all your compliance needs Works with all pension providers. Time required: 15 minutes per month Helping your business with auto-enrolment

9 Service fees Initial set-up + qualfying pension scheme Supported (1 employee +) Express (1-20 employees) Managed (1-250 employees) More than 1 month to staging date 1,750 1,499 1,750 Less than 1 month to staging date 2,310 2,039 2,310 Post staging date n/a 2,574 2,865 Supported* (per employee) Express Managed Monthly administration First 25 employees 2.50 per person Next 25 employees 1.25 per person Every additional employee 0.25 per person 99 per month from 199 per month Supported Express Managed Additional key services (cost per event) Qualifying pension scheme Included Included Included Assessment of existing schemes for suitability Establishing salary sacrifice structure Guidance on certification options * Minimum monthly administration fee of 10. All fees are subject to VAT, annual RPI increases and payable directly to Johnson Fleming by Direct Debit mandate. Saving you time and resource, and reducing your risk

10 Looking for something a little more bespoke? Every business is different and each has its own requirements. If you feel you need something more from us, please get in touch with our business development team to discuss how we can help you with your auto-enrolment responsibilities. We will customise a service that exactly fits your needs and helps you to deliver your wider business objectives. We can help with: Scheme reviews Communication programmes Auto-enrolment audits Re-enrolment projects Salary Sacrifice implementation Certification checks. Helping your business with auto-enrolment

11 A business built on customer service Our ongoing commitment to customer service is recognised by the Institute of Customer Service. We ve achieved world-class accreditation the highest in the Financial Services sector, and we were also announced as a Finalist in the UK Customer Satisfaction Awards For more information: sortrefer@johnsonfleming.com Saving you time and resource, and reducing your risk

12 Johnson Fleming Group Pensions Group Risk and Healthcare Service Provision Johnson Fleming Limited is authorised and regulated by the Financial Conduct Authority. Registered office: Johnson Fleming Limited, Fleming House, Bromsgrove Enterprise Park, Bromsgrove B60 3AL. Registered in England and Wales, registered number The Financial Conduct Authority does not regulate some forms of auto-enrolment services, some forms of pension communications services and some forms of pensions governance services. All fees are subject to VAT, annual RPI increases and payable directly to Johnson Fleming Limited by Direct Debit mandate. JF011016