We’ll point you in the right direction with auto-enrolment.
Simply put the State can’t afford to support everyone in retirement anymore as people are living longer. There just aren’t enough people working to support the number of people in retirement and that situation is only going to continue.
Auto enrolment is part of a government initiative to increase private retirement savings. As part of the Pensions Act 2008, all eligible employees must be automatically enrolled into their company pension.
When each employer has to comply by this new legislation is based on the total number of people in the employers PAYE scheme and it’s called your staging date.
The theory sounds straight forward enough, whether or not you agree with it. The implementation however, is far from simple.
Auto enrolment requires planning. Putting a plan in place needs the knowledge, expertise and resources which comes from understanding what needs to be done in a bunch of different scenarios with different companies.
AE in a Box® brings all this knowledge and expertise together in one place and lets you know what tasks you need to do by which date, with relevant instructions and links for you to successfully perform each one.
"The People’s Pension are glad to be associated with AE in a Box as we see it being a great tool to help employers come to terms with their automatic enrolment duties, and to be able to carry out these duties in an efficient and timely manner. AE in a box will be of great value to them whether they are working by themselves or in conjunction with their payroll service provider. At The People’s Pension we continually review our product to ensure it is low cost and easy to use, and AE in a Box fits these interests". - William Finch, The People's Pension
Employers are actively seeking support to help comply with automatic enrolment. The larger firms can provide consultancy solutions however smaller firms still need a degree of support in order to comply.
Support to SME and micro businesses can be delivered, however the support (and due to its low cost nature) needs to be ‘low touch’ and systemised if it’s going to be delivered appropriately. AE in a Box® offers all the support employers need to comply with the new legislation and remain compliant going forward specific to their individual dates in a systemised manner. This includes Updates due to changes in legislation and the provision of regular, pertinent updates together with a clear plan on what needs to be done in order to comply once more
Employee support and communications
Employers are keen to avoid being caught up in providing advice to their employees for fear of advising (or miss-advising) them or being accused of trying to persuade their employees to opt out.
One of the greatest areas of need is not the needs of the employer, but of the employee.
While larger firms can potentially afford to support their employees by arranging face to face seminars, helplines and other forms of support, smaller firms are looking for more direct routes to support their workforce. AE in a Box® provides all the employee communications required, without any bias from the employer.