Auto enrolment - 5 steps to bureau success

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Auto Enrolment - Five Steps to Bureau Success

How to choose a quality scheme and not get lost trying to navigate the auto-enrolment jungle

By Paul Byrne

By Henry Cobbe

By Paul Byrne

Auto Enrolment - Five Steps to Bureau

Success

By Henry Cobbe

How to choose a quality scheme and not get lost trying to navigate the auto enrolment

jungle.

Q&A SessionQuestions Tab or #BPWebinars

CompetitionTwo BrightPay 2015/16 bureau licences

On DemandThis session is being recordedREC

Auto Enrolment - Five Steps to Bureau Success

• Accountancy Practice for 20 Years• Payroll software development• Expanded into the UK – BrightPay &

Bright Contracts• 80,000 employers across the UK &

Ireland use our products

Paul Byrne

• UK Payroll Landscape• Small Employers & Auto Enrolment• Lack of understanding surrounding Auto

Enrolment• Auto Enrolment Penalties • Profit from Auto Enrolment• Are you Open for Business?

Agenda

UK Payroll Landscape

Entitled Workers

Non Eligible Jobholders

Eligible Jobholders

Auto Enrolment Overview

Eligible Jobholders • Aged between 22 and State Pension

age• Earn more that £10,000 per year• Work, or ordinarily work, in the UK

1. Set up a pension scheme

2. Assess employees

3. Communications

4. Ongoing duties

5. Declaration of Compliance

Auto Enrolment Responsibilities

Small Employers and Auto Enrolment

60,861 employers completed declaration of compliance

1.8 million yet to reach their staging

Lack of Understanding Surrounding AE

Lack of Understanding• Large and medium employers: HR personnel to help

with auto enrolment

• Small and micro employers: lack of in-house expertise

• Majority of employers yet to stage will not have the knowledge or experience to make informed AE decisions

Lack of Understanding• Information overload - confused,

bewildered and overwhelmed

• Expected that 78% of these will turn to an accountant, bookkeeper, or payroll bureau for advice and counsel

• Gift wrapped business opportunity

Auto Enrolment Penalties

• Further non compliance may result in court action.

• Responsibility for AE compliance rests with the employer.

• If employers don’t comply, enforcement action starts with statutory notices and is followed by penalty notices

Auto Enrolment Penalties

Total automatic enrolment cases closed to date

Compliance Notices Issued

582 Fixed Penalty Notices Issued

Are you open for business?

• Are you ready or prepared to take on auto enrolment business?

• What level of support / information will you offer?

• Are you prepared for employers coming to you last minute?

Auto Enrolment – A Chargeable Service

• Payroll bureaus must predict the evolutionary need of their clients

• Establish yourself as a proactive rather than a reactive AE advisor

• Necessary level of service for an initial set up fee plus a monthly retainer

• By offering a complete end to end solution, bureaus can generate income and enhance client relationships.

• If you offer other services, auto enrolment will provide a new platform to reach and upsell to.

• Employers will be happier to consolidate all their outsourced services to one person or advisor.

Value Proposition for your Clients

1.Time saving

2.Cost saving

3.Focus on core areas

4.Expertise

Profit from Auto Enrolment

Opportunity for Profit• Considerable opportunity– Gain new business– Retain client base– Increase profits

• Perfect platform to acquire new clients while building a long term, sustainable business.

1. Engage your clients

2. Avoid Penalties

3. Open for Business

4. Increase Revenue

5. Software Solutions

5 Steps to Bureau Success

2. Avoid Penalties

4. Increase Revenue

• Engage with clients who have not yet staged• Find out clients’ staging date – http://bit.ly/1EuooiJ • Be proactive – let clients know that you are open for AE

business• Communicate AE service offering & pricing• Risk of losing some or all of your payroll clients

1. Engage with your Clients

2. Avoid Penalties

4. Increase Revenue

• The Pensions Regulator continues to enforce fines and penalties for non-compliance

• Not allowing enough time to plan could lead to your clients being fined

2. Avoid Penalties

4. Increase Revenue

• Bureaus can position themselves as available for AE business

• Clients outsource to you because you have the know-how and it saves them time and money.

• Trusting you as a payroll professional to make sure they are fully AE compliant with the law.

2. Avoid Penalties

4. Increase Revenue

• A number of advantages to offering AE as a Service. • By offering AE as a chargeable service, bureaus can:– Enhance client relationships– Add additional revenue streams– Provide added value to your existing clients – Bring new clients on board– Benefit from a competitive edge

4. Increase Revenue

2. Avoid Penalties

4. Increase Revenue

5. Software Solutions• Ensure the software supports the requirements of AE and

will correctly perform tasks• Without appropriate systems in place, additional time and

resources will be required• Payroll software can automate employer admin tasks, e.g.

Assessing employees• The Pensions Regulator urges bureaus and employers to

check with their payroll provider

• Modern innovative solutions exist that can automate AE duties

• BrightPay – integrated payroll and auto enrolment solution

• Designed to take all the grunt work out of auto enrolment

• Allow you to streamline auto enrolment, saving time and money

Streamline Auto Enrolment

Key Take Aways

2. Avoid Penalties

4. Increase Revenue

2. Avoid Penalties

4. Increase Revenue

2. Avoid Penalties

4. Increase Revenue

2. Avoid Penalties

4. Increase Revenue

2. Avoid Penalties

4. Increase Revenue

1. Engage your Clients

2. Avoid Penalties

4. Increase Revenue

By Henry Cobbe

How to choose a quality scheme and not get lost trying to navigate the auto enrolment

jungle.

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Tuesday 24th November @ 10.00 am

https://www.brightpay.co.uk/events/1038/

CPD Accredited:Auto Enrolment Training for Payroll Bureaus

By Paul Byrne & Victoria Clarke

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* Offer applies to new customers who switch to BrightPay from another payroll software provider for the first year subscription only. This offer applies to BrightPay 2015/16 bureau licence only and does not work in conjunction with any other offer.

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as user friendly

98.8%Would recommend

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Questions & Answers