Buck Consultants launches auto-enrolment system

Buck Consultants has launched an auto-enrolment system, which is designed for small and medium-sized employers.

Enrolment Pro can be integrated with employers existing systems or used as a standalone platform. It includes modules that guide employers through each stage of auto-enrolment, from auditing existing systems through to assessing ongoing governance.

The modules are:

  • Audit – Examine current pension arrangements, undertake financial modeling, review payroll functionality.
  • Plan – Develop implementation strategy, consider communications options, gather competitor analysis, conduct employee engagement research.
  • Design – Restructure existing arrangements, source the right pension plan(s) for employees, develop affordable investment options, propose communications strategy for effective member engagement.
  • Deliver – Organise stakeholder training, pension plan implementation, manage communication programmes, implement technology compatible with payroll/HR systems.
  • Evaluate – Conduct independent review of implemented system, establish robust governance committee structure, provide regular independent monitoring and support.

Philip Smith, head of defined contribution and wealth at Buck Consultants, said: “Auto-enrolment calls for new levels of collaboration between HR, payroll and pensions teams never seen before, as well as ongoing communication with employees.

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“Employers need to make the right decisions to ensure they comply with these new obligations. Larger employers have specialist teams and advisers to deal with auto-enrolment, but those who are facing staging dates from August this year won’t necessarily have the expertise or systems in-house. 

“We have therefore developed Enrolment Pro specifically to meet the needs of the medium and smaller-sized employer.”