Pensions specialist Johnson Fleming has launched two new solutions for the UK's small and medium enterprises (SMEs) as increasing numbers reach their auto-enrolment staging dates this year.
The company says the two solutions, a managed auto-enrolment service or a supported one, have been designed to assist the 600,000 SMEs due to reach their staging date between now and January 2017.
The managed package will devolve all responsibility of compliance to Johnson Fleming, resulting in a substantially reduced workload and minimising risk exposure.
Alternatively, for businesses that manage auto-enrolment internally, the supported option enables firms to access the same software as the managed service - this allows them to action all the processes required in a single integrated system and deliver a fully compliant auto-enrolment solution, in-house.
Johnson Fleming consultancy director Iain Chadwick says the two services offer help at a time of intense legislative change and compliance:
"They have been specifically designed to help SMEs successfully, efficiently and cost-effectively comply with all of the auto-enrolment rules, helping them to avoid fines from The Pensions Regulator," he said.
"And because we understand that every employer is different, we've ensured these packages offer flexibility to enable businesses to take back control at a time of increasing scrutiny and change."
The launch date follows a rise in the number of compliance notices issued, and recent regulator research indicating that one in five small employers and half of all micro business owners are not even aware of when they must become compliant.
Featuring a broad range of tools, from validation and testing of employee data and assessment and categorisation of a workforce to creation and delivery of statutory communications and ongoing transactional audits, the managed option delivers a fully compliant auto-enrolment solution.
SMEs using the supported system will be prompted and able to action all of their monthly auto-enrolment duties including opt-in and opt-out management, record keeping and auditing.
First published 07.05.2015
Lindsay.sharman@wilmingtonplc.com
