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Auto Enrolment

Auto Enrolment is the latest Government initiative surrounding workplace pension reforms.  With an ageing population, and the realisation by Government that there will be insufficient funds available to pay for people's retirement, they have set out the need to increase the number of people regularly paying into pensions, thus saving for their retirement themselves.

The rules around Auto Enrolment mean that there is a greater onus on the employer to undertake a number of processes to ensure that they are complying with the legal requirements and supporting their staff effectively.

Every employer running a PAYE scheme has been issued with a staging date.  This information has been communicated by the Pensions Regulator, however to find out when yours is please click here.

Whilst there is a major one off exercise to prepare for Auto Enrolment there will also be an ongoing draw upon resources to administer the workforce assessment requirement every pay day.  In fact, one industry expert is suggesting that an additional 100 days will be required each year just to fulfil its ongoing requirements.

Prime's payroll team have already been working with some of our larger clients to prepare for Auto Enrolment.

So why should you outsource Auto Enrolment administration to Prime?

  • Eliminates the need to find and train resources for a one-off peak activity
  • Alleviates the significant ongoing administrative burden
  • Guarantees compliance with legislation
  • Cost effective - organisations can benefit from the economies of scale provided by outsourcing
  • Ability to set high service level agreements
  • Allows management the time to focus on core business activities.

 

To find out how we can help please contact us on 024 7651 8555.