We will assume you are ok with this, but you can opt-out if you wish.
Your pension scheme may well face certain challenges in addition to its normal day-to-day administration. Our experts have the technical expertise and breadth of experience to help you to develop cost effective solutions to these challenges. Here are some of the challenges we’re often asked about.
Your organisation will have to manage the introduction of auto-enrolment, including how to administer the new scheme and communicate with its members. Some of the issues you will need to deal with include:
Auto-enrolling all employees - you have to auto-enrol all employees as soon as they become eligible jobholders
Deadlines for communication - there are strict timescales for providing information to your employees about the scheme
Managing opt-outs - employees can opt out of the pension scheme, but you have to re-enrol them every 3 years. Also, there are strict rules about the timings for opt outs and criteria for valid and invalid opt outs.
These issues could lead to a heavy additional workload for your organisation, especially when your scheme is first introduced. We can help you to manage your auto-enrolment scheme in a cost-effective and expert way, including the way you deal with:
Ensuring that all your employees understand what’s happening and the steps you are taking to comply with auto-enrolment legislation
We can help you manage the auto-enrolment process, including:
Employee eligibility alerts
Employees’ auto-enrolment implementation
Support Pensions Regulator registration
Managing opt-in requests from non-eligible jobholders and other entitled workers
Managing the opt-out process, including validating requests and organising refunds of contributions.
We take data governance very seriously on all of the schemes we administer, whether it’s a new scheme or one that you have transferred to us. For example, we use DataSure, a tool that closely follows The Pension Regulator’s recommended approach.
DataSure can be applied to the day-to-day administration of your scheme, helping to quickly identify, understand and rectify any problems. We also measure all of The Pension Regulator’s defined set of common data items and can, depending on the nature of your scheme, run over 500 additional data checks.