suggests that employers are not getting the message that they need to plan ahead, and are underestimating how much work is involved and how long implementation may take them.
CIPP comment (from page 58 of Nest insight)
The CIPP has been impressed by the way in which employers and payroll software providers have embraced automatic enrolment in 2013. 2013 also saw the Minister of State for Pensions, Steve Webb demonstrating that he has listened to employers, payroll software providers and representative bodies to help simplify some of the very complex rules. However where will we be in 2014? The CIPP still has major concerns for the smaller employer, in particular those who are due to stage between May and July 2014. It is critical that businesses understand their obligations to ensure they don’t fall foul of the legislation. No one knows what the capacity capability of the pensions industry will be and we hope businesses and employers have seen the adverts and talked to their pension providers or financial advisors to ensure they are ready. A lot of middleware products have come on to the market and employers need to weigh up the costs versus administration. Different products will be required depending on what the employer has in place now, or might need in the future to meet their obligations. One point to bear in mind is that if 30,000 employers all go to their pensions providers, middleware or payroll software provider in the month before they are due to stage they will likely not meet their staging date! The CIPP would urge all employers due to stage next year to plan now - don’t be left behind. Supporting this research, the CIPP has recently launched the automatic self-assessment exercise to assist employers with ensuring their readiness for automatic enrolment. Details can be found here .
‘NEST insight’ annual research report can be viewed on the CIPP website .
Preparing for automatic enrolment with NEST
4 February 2014
NEST has produced a webinar aimed at payroll software developers and payroll providers.
This webinar which will run for one hour on 24 February 2014 at 11am is looking at the role of payroll function in automatic enrolment and has been designed specifically for payroll software and payroll providers. If you’re a payroll software developer this webinar will cover how NEST will work with your software to exchange data files. If you’re a payroll bureau or service this webinar will demonstrate how you can set up and run NEST for your clients.
You will be able to submit questions throughout the webinar and they will be responded to in a dedicated Q and A session at the end.
Information about NEST webinars can be found at the NEST website.
CIPP Policy News Journal
16/04/2014, Page 462 of 519
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