Communication is key prior to an employer’s auto-enrolment staging date, according to Vicki Tracey, senior benefits specialist at Pall Europe.
Speaking at Employee Benefits Live on 25 September at London’s Olympia, Tracey explained that the manufacturing company, which staged on 1 September 2013, found that with a largely segmented workforce comprising both hourly and salaried staff, it faced a task in ensuring all employees fully understood that pensions auto-enrolment was imminent.
Prior to staging, Pall had a group personal pension (GPP) scheme in place with a 4% employee and 4% employer contibution. The scheme offered employees the ability to make contributions through a salary sacrifice arrangement, with any national insurance (NI) savings being paid back into the pension.
“We didn’t want to change [the scheme] for auto-enrolment,” said Tracey.
Pall worked closely with its consultant, Lorica, and pension provider Aegon to ensure that all employees were aware of the coming changes. Lorica provides one-to-one financial advice sessions for all Pall employees; Tracey credits this as contributing to the high take up of the pension because only 200 of its 1,800 employees were not members of the GPP prior to its auto-enrolment staging date.
With staff working across a range of disciplines including manufacturing, sales and research and development, Tracey recognised that the organisation could not communicate enough.
“[Employers] need to keep talking to employees and engage everyone as soon as possible,” advises Tracey.
