LEBC Group has partnered Aviva to create an online auto-enrolment product.
The independent financial adviser and employee benefits consultancy’s aeComply draws on the functionality of Aviva’s online Auto-enrolment Manager for Employers (AME) hub-based product, which can operate across multiple providers’ pension schemes.
The product enables employers to manage their long-term compliance requirements, including employee enrolments, contribution levels, opt-outs, certification, payroll monitoring and communications.
It also helps employers prepare for auto-enrolment by assessing the financial implications it will have on the business. LEBC Group will use its advisory offering to provide enhanced scenario modelling, internal systems assessments and pension audits.
Glynn Jones, divisional director of group savings and investments with LEBC Group, said: “Employers recognise the need to minimise risk and cost relating to auto-enrolment compliance.
“However, many continue to grapple with reviews of existing arrangements, preparation for their staging date, as well as making and tracking contributions through payroll.”
Brian Gabriel, director of corporate benefits at Aviva (pictured), added: “Employers preparing for automatic-enrolment need to allow a substantial period of time to complete their financial modelling, make the appropriate auto-enrolment decisions, and ensure they have the right tools in place to assist with their long-term compliance requirements.
“We designed AME from an employer’s perspective and know that they are looking for cost-effective and efficient ways to manage automatic-enrolment in the long-term.
“LEBC’s aeComply brings together our technology and LEBC’s consulting expertise to create a powerful [product].”