Having an engaged workforce that feels rewarded and valued is a priority for every organisation.
Supporting that workforce, now and in the future, is the key to remaining viable.
Clive Bolton, managing director, retirement solutions at Aviva, has said: “It’s clear that people will need support and guidance as they choose how to make the most of their savings, particularly as many are concerned about running out of money over what could be a long and varied retirement.”
The Pensions Reform process is complex and time consuming to get it right and the complexity of auto-enrolment will require management time and effort, with the help of specialist technical support.
Pension provider selection will require specialist advice and time commitment. In addition there is a prescribed procedure on how to communicate properly with your employees.
Did You Know?
According to research by Aon Hewitt’ Benefits administration survey, 75% of respondents outsource the administration of their pension scheme. The research also found that electronic communications and online member self servicing were the most popular options for improving administration quality and efficiency.”
Then consider the amount of admin time needed to implement and run auto-enrolment, and the extra costs for software and training.
The co-employment management company will provide you with an unmatched level of support in the management and administration of your retirement plans, from simple plan administration to investment management services performed by Registered Investment Advisors.
A service combined with efficiency and time-savings, the clear value of a single contact point, and improved employee benefits plan and participant services.
The co-employment management company streamlines compliance, communication and customer service for your company and employees, and further simplifies your administrative requirements and offers the following additional benefits with reduced plan expenses and management fees.
It creates an efficiency potential and is increasingly relevant to small and mid-sized firms.
Compliant end-to-end auto-enrolment management
- Lifts the necessary workforce data from your business systems;
- Segments the workforce and updates the status of each employee; Issues compliant, appropriate communications to workers;
- Manages all processes and workflows associated with auto-enrolment, including the opt-out, opt-in, and auto re-enrolment processes and the management of contributions;
- Provides reporting of all required information – including sending data back out to payroll and benefit administration providers.
A COST-EFFECTIVE PROPOSITION FOR PLANNING TOGETHER FOR YOU AND YOUR EMPLOYEES FUTURE
Recognise the value and power of a one-organisation, internal-branding strategy, in which all employees enjoy the timely delivery of accurate information.
Recognise the added value of the operational synergies to serve employees on a 24/7 basis, enhance the corporate brand, and create vital efficiencies for the organisation.
- Does ALL of the work for you
- A highly personal service based around your needs and preferences
- Compliance taken care of
- Employer owns the data
- Streamlined restructures service available for all types of corporate pension schemes
- Member communications be tailored to meet each scheme objective
- Dedicated implementation project management and ongoing client management
- Dedicated UK-based servicing teams, experienced in administering schemes of all employer sizes
- Quality Execution
- Simple proposition
- Full Compliance
- Minimal disruption
- Minimal cost
- Cater for all employers and every type of employee
It makes total sense
We constantly monitor and review developments in the benefits industry aiming to develop, manage and distribute knowledge on HR and employee benefit-related matters, laws and transactional processing and payments industry trends.
Please note that the co-employment management company only acts as an introducer to authorised and regulated by the FCA for financial advice in relation to WorkPlace Pensions Reform & Auto-enrolment.