All Pensions articles – Page 167
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ArticleWhite paper — dealing with the admin challenge of auto-enrolment
Employers will need to revisit their business processes, pension administration and employee communications to address the impact of auto-enrolment.To download the white paper, click on the link above right under Related Files.White paper supplied by JLT Employee Benefit Solutions.
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ArticleWhite paper — technology can help deal with complexities of auto-enrolment
An auto-enrolment technology solution can draw information from an employer’s payroll and HR systems, determine the requirements and process information to help manage the new responsibilities faced by employers.To download the white paper, click on the link above right under Related Files.White paper supplied by Friends Life.
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ArticleWhite paper — offsetting employment costs arising from auto-enrolment
Following a long build-up, 2012 sees the start of automatic enrolment, believed to be an extremely significant change for UK workplace pension provision.This white paper considers the mitigation of an increase in potential employment costs.How will responsibility for compliance be split between the pension provider scheme/provider, the HR department and ...
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ArticleWhite paper — coping with the data challenge in auto-enrolment
The data-management processes involved in auto-enrolment will require changes to technology and supporting communications.To download the white paper, click on the link above right under Related Files.White paper supplied by SBC Systems.
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ArticleWhite paper — effective management of the auto-enrolment process
If not managed effectively, the auto-enrolment process could expose employers to financial and reputational risk.To download the white paper, click on the link above right under Related Files.White paper supplied by Now: Pensions.
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ArticleWhite paper — the impact of the retail distribution review
The retail distribution review (RDR) will add cost to the provision of workplace pensions and could cut off the lifeblood of advice and support for employees.To download the white paper, click on the link above right under Related Files.White paper supplied by Lorica Employee Benefits.
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Article
Auto-enrolment showcase: Transformation promises many rewards
Key points Auto-enrolment will require technology that is capable of supporting an employer’s pre-payroll benefit data management processes. The data management processes involved in auto-enrolment will require changes to technology and supporting communications.Pushing the UK reward function into a more 21st-century approach to administration will enable it to cope with ...
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Article
Auto-enrolment showcase: Keep it simple, easy and cost-effective
Key point If not managed effectively, the auto-enrolment process could expose employers to financial and reputational riskThe auto-enrolment process is a complex matter, so employers need to find a versatile solution that handles management requirements efficiently but is straightforward to use, says Morten NilssonNow: Pensions is based on the principle ...
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Article
Auto-enrolment showcase: Nest offers a straightforward landing
Key pointsThe national employment savings trust (Nest) is designed for employees who are not currently saving into a workplace pension.Nest has a public service obligation to accept any employer that wants to use it to meet its workplace pension duties.Employers can use the national employment savings trust (Nest) in various ...
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Article
Auto-enrolment showcase: Evolution not revoluton for pensions
Key points Auto-enrolment will present employers with two main costs: the impact of employer contributions, and the associated costs, which can include administration and ensuring regulatory compliance. An auto-enrolment technology solution can draw information from an employer’s payroll and HR systems, determine the requirements and process information to help manage ...
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Article
Auto-enrolment showcase: Implementation and cost mitigation
Key points to consider How will responsibility for compliance be split between the pension scheme/provider, the HR department and the payroll department? What interfaces are required between these parties and how much can be automated? Do systems hold all the data required under the employer’s new duties and is it ...
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Article
Auto-enrolment showcase: Finding out the how and the how much
Key points A financial analysis of the full cost of pension contributions is a vital part of preparing for auto-enrolment. It is also essential for employers to assess their technology provision to ensure it is capable of coping with all of the requirements of auto-enrolment.Employers must seek to quantify both ...
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Case Studies
Case study: Jupiter Hotels finds auto-enrolment schedule hard to check out
National hotel chain Jupiter Hotels operates 26 sites under the Mercure brand in the UK.Auto-enrolment is set to have a significant impact on Jupiter Hotels and the government's initial indication it would delay staging dates for organisations employing fewer than 3,000 staff caused potential difficulties.Because of the complex make-up of ...
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Analysis
Making sense of auto-enrolment staging dates
If you read nothing else, read this... Staging dates are when employers must begin the auto-enrolment process for eligible staff into a qualifying workplace pension scheme. Employers' staging dates are determined by the number of staff members employed at April 2012 and their pay-as-you-earn (PAYE) reference. Staging dates for employers ...
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Analysis
Auto-enrolment showcase: Countdown to the pension revolution
PHASING DATES FOR COMPULSORY CONTRIBUTION LEVELSThe minimum contribution rates that an employer must pay into an employee’s pension scheme will be introduced according to its staging date. From the employer’s staging date to 30 September 2017: Employer and employee each contribute 1% of salary. Total minimum contribution is 2%. From ...
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Analysis
Employee Benefits auto-enrolment showcase
Download a PDF of the Employee Benefits auto-enrolment showcaseCountdown to the pension revolutionPositive thinking will achieve objectivesFinding out the how and how muchImplementation and cost mitigationEvolution not revolution for pensionsAdministration will be the big challengeMaking all the pieces of the puzzle fitWho ordered all these extras anyway?Nest offers a straightforward ...
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Article
Auto-enrolment showcase: Employee-friendly approach is needed
Key points A successful workplace pension proposition should be built on the three pillars of auto-enrolment functionality, communications and investment strategy. Maintaining staff engagement levels in the new world of auto-enrolment will be a difficult but important task for employers because the number of apathetic scheme members is likely to ...
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Article
Auto-enrolment showcase: Who ordered all these extras anyway?
Key points Auto-enrolment will bring a huge addition to employers’ cost base. The retail distribution review (RDR) will add cost to the provision of workplace pensions, and could cut off the lifeblood of advice and support for employees.As if the costs of introducing auto-enrolment were not enough, the retail distribution ...
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Article
Auto-enrolment showcase: Making all the pieces of the puzzle fit
Key points Employers must consider the impact the cost of additional pension contributions and ongoing scheme administration will have on their organisation. Another key issue is how employers will handle the ongoing auto-enrolment and record-keeping requirements. Employers must ensure a full audit trail of employee communications is maintained.Completing the groundwork ...
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Article
Auto-enrolment showcase: Administration will be the big challenge
Key points Employers will need to revisit their business processes, pension administration and employee communications to address the impact of auto-enrolment. A self-service portal is critical for an automated system to manage the opt-out and opt-in processes.Implementing auto-enrolment will require employers to assess their business processes and systems in detail ...