As a result of Pension Auto-Enrolment, employers of all sizes are now legally obliged to help their employees save for retirement by providing a suitable workplace pension scheme for them. However, what many employers don’t appreciate is that Auto-Enrolment is only partially about pensions, it is mainly about data, administration and process.
Auto-Enrolment is designed to remove the inertia and barriers to joining a pension scheme and take away the need for employees to make an active decision to join a scheme. However, it is extremely detailed and complex as there are around 33 mandatory new pension duties and the regulations are clear in that it is the employer’s responsibility to manage and implement their duties, therefore it is vital to allow sufficient time to prepare.
It is estimated that it will take each employer around 250 hours to understand, digest and implement these new legal duties, which is going to be difficult, especially for employers that do not have an in-house pensions or HR specialist.
Corinthian Affinity aims to improve people’s lives by making the complicated simple.
As we appreciate that pensions is not necessarily on everyone’s agenda, we’ll offer as much support as you need, saving you time, money and stress.
One simple all-inclusive end to end solution to Auto-Enrolment combines value-added service with low costs.
In a recent independent survey, 85% of our clients gave us outstanding scores for customer experience, judging us as easy to deal with, trustworthy and achieving high levels of satisfaction.
Contact Lee French today:
Phone: 0800 484 0021