Media company Informa spent the start of this year creating a strategy outlining its auto-enrolment objectives to ensure it is fully prepared for the reforms.
Informa’s official staging date is June 2013, but it will comply with the legislation in January 2013, when the first salary sacrifice deductions are made for benefits selected through its flexible benefits scheme.
Informa conducted a review of the pensions provider market, including its own provider, Friends Life, in the last quarter of 2011. Thomas Humphris, head office HR and reward director, wanted to know what responsibilities providers would take for holding employee data and handling those opting out of its pension scheme. He also wanted to ascertain the level of support to expect in terms of communicating and educating staff about the reforms. “It is surprising how many providers create a lot of complexity around communication,” he says.
Informa decided to retain Friends Life on the strength of its communication services. It also felt the development of the provider’s management platform would fit into its schedule for auto-enrolment. As part of the deal, Informa also managed to negotiate lower annual management charges for staff.
Humphris has also reviewed Informa’s SAP HR platform to ensure it integrates correctly with Friends Life’s platform.
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