Where supply can meet demand, other delivery and process issues have made the process much more complicated than it should be. So far providers have had a take-it-or-leave-it approach to auto-enrolment. We need to push back and demand solutions that can meet minimum criteria, such as:
coping with multiple pay reference periods; managing their opt-out processes effectively;
flexibility when the employer is importing data for the assessment processes; dealing with multiple postponement periods for different categories of workers – an issue for payroll providers; integration with other arrangements such as legacy schemes or other provider’s systems; dealing with complicated or multiple contribution structures such as those required for TUPE-transferred staff or 'grandfathered' arrangements; offering adequate levels of security with their data transfer processes. This list of issues needs addressing urgently. Scheme professionals need to seek out the suppliers who can provide them with a full service that includes consultancy and auto- enrolment project management, while meeting all of the compliance and regulatory requirements. Auto-enrolment is an issue that requires their immediate attention. Are we getting the message across as an industry? Are we offering fit-for-purpose answers? Time will tell but there are certainly early issues which are concerning.
UMBRELLA COMPANIES AND THEIR AUTOMATIC ENROLMENT DUTIES – FOLLOW UP TO RECENT CIPP/ DANBRO ROUND TABLE EVENTS
20 May 2013
As a result of a joint working relationship between the CIPP and DANBRO, two round table meetings were arranged.
These meetings provided the opportunity for Umbrella organisations to discuss automatic enrolment (AE) into a workplace pension as well as the impact on Umbrella groups and their employer obligations. The discussion with professional peers, The Pensions Regulator (TPR) and a representative from the National Employment Savings Trust (NEST) allowed a better understanding of how the new legislation affects Umbrella groups.
During the second meeting held, a presentation was delivered by NEST to aid an understanding of the NEST system processes.
The CIPP and DANBRO have now published the key questions raised and the answers provided by NEST and TPR.
http://www.cipp.org.uk/en/cippnews/index.cfm/umbrellaae
TPR PROVIDES NEW TIMELINE PLANNER TO HELP PREPARE FOR AUTOMATIC ENROLMENT
11 June 2013
The Pensions Regulator has added to their repertoire of goodies a timeline planner aimed at helping employers with 20 – 250 employees.
CIPP Policy News Journal
16/04/2014, Page 378 of 519
Made with FlippingBook - Online magazine maker