Auto-enrolment is not just a pension issue; it will impact HR, payroll, pensions and finance. For many organisations the process will be costly and resource intensive. Being ready to comply with auto-enrolment could take over 18 months; the impact is more than just extra pensions’ costs.
October 2012 sees the introduction of major pension reforms in the UK. From this date, new regulations will require every employer, not only to automatically enrol the vast majority of their workforce into pension schemes, but also to make contributions on their behalf.
Early preparation is essential to ensure the changes required to systems, processes and communication materials are identified and addressed. Xafinity is uniquely able to present a comprehensive auto-enrolment solution to help you mitigate the cost and risks that you face.