Date post: | 21-Feb-2017 |
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The webinar will begin shortly...
Small Employers & Auto Enrolment:The Opportunity for Bureaus
Guest Speaker: Standard Life
By Karen Bennett
Small Employers & Auto Enrolment: The Opportunity
for Bureaus
By Jamie Jenkins
What you need to know about choosing a workplace
pension scheme
Q&A SessionQuestions Tab or #BPWebinars
On DemandThis session is being recorded
Q&A
REC
Small Employers & Auto Enrolment:The Opportunity for Bureaus
Webinar Agenda
Auto Enrolment Overview
Small Employers - Ripe for the picking
Auto Enrolment as a Chargeable Service
Auto Enrolment Penalties
Review Existing Payroll Systems
How BrightPay Handles Automatic Enrolment
Introducing BrightPay Cloud
Auto Enrolment Overview
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
Auto Enrolment Overview
Entitled Workers
Non Eligible Jobholders
Eligible Jobholders
Auto Enrolment Overview
1. Set up a pension scheme
2. Assess employees
3. Communications
4. Ongoing duties
5. Declaration of Compliance
Auto Enrolment Overview
Auto Enrolment Overview
Small Employers and Auto Enrolment
370,432Employers completed
declaration of compliance
7,165,000Automatically enrolled
Eligible jobholders
Small Employers – Ripe for the Picking
Small Employers and Auto Enrolment
January 2017
Small Employers and Auto Enrolment• 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
Small Employers and Auto Enrolment• 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 as a Service
Auto Enrolment as a Service
Employers with less than 50
employees
of an accountants client base is made up
of:
90%
• 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 as a Service
Auto Enrolment as a Service
1.Time saving
2.Cost saving
3.Focus on core areas
4.Expertise
• Generate income and enhance client relationships
• AE provides a new platform to reach and upsell to
• Employers will be happier to consolidate all their outsourced services to one person
Auto Enrolment as a Service
Auto Enrolment Penalties
Those who do not carry out the AE duties in accordance with
the law will face enforcement action and penalties
Auto Enrolment Penalties
Statutory Notice
Penalty Notice Court Action
Auto Enrolment Penalties
Informal action
Statutory notice
Penalty notice
Escalating penalty notice
Civil penalty notice
Prohibited recruitment conduct penalty notice
Auto Enrolment Penalties• TPR sources of intelligence;
1) Receipt of a declaration of compliance2) Notification by a pension scheme of non-payment of
monthly pension contributions3) Employee whistleblowing
Auto Enrolment Penalties
20,050
Total automatic enrolment cases closed to date
26,040
Compliance Notices Issued
6,779
Fixed Penalty Notices Issued
Auto Enrolment Penalties• Missed staging date – most common reason for TPR
enforcement action• Within 6 weeks of the staging date – issue
postponement letters to employees• Otherwise AE will need to be backdated to the staging
date
Get in touch with the Pensions Regulator
Register with a pension provider
Assess your employees
Communicate with employees
Backdate any missed contributions
Complete your declaration of compliance
Missed Staging Date – What to do
Review Existing Payroll Systems
• Having the right payroll tools will play a fundamental role in ensuring the success of auto enrolment
• TPR recommends using an integrated payroll and auto enrolment solution
• Ensure that your payroll software provider will provide all the necessary functions to automate the employer admin tasks
Review Existing Payroll Software
Review Existing Payroll Software• Speed of automation offers significant
cost savings to bureaus
• Useful when employers approach you close to, at, or even after their staging date
• With the right tools, auto enrolment should become a seamless part of the payroll process
Does Your Payroll Software…
1. Assesses your workforce automatically?
2. Allows the use of postponement?
3. Customise employee communications?
4. Calculate and deduct pension contributions?
5. Handles opt-in and joining?
Does Your Payroll Software…
6. Handle opt outs and refunds?
7. Notify you when actions need to be taken?
8. Keep records and provide reports?
9. Integrate with various pension providers?
10.Provide free support?
BrightPay’s Approach to Auto Enrolment
Questions & Answers
For more information visit www.brightpay.co.uk, email [email protected] or phone 0845 3004 304