A recent survey carried out on behalf of the Pensions Regulator has revealed that only 44% of accountants surveyed were providing or configuring software for their clients for auto enrolment.
However, this was an activity that 80% of those surveyed planned to provide to clients in the future.
If you are planning to help your clients in this way, then there are three questions you should ask when choosing auto enrolment software.
The software should be able to:
- assess the ages of your clients’ workers and their earnings so that you know who has to be auto enrolled and who has the right to opt in or join
- handle postponements
- write to your clients’ staff about the workplace pension. Good software will automatically pull staff data from personnel files and automatically email them the correct information or give you or your client the option to print off the correct letters if you prefer.
- enrol staff into a pension scheme
- help your client with their declaration of compliance
- manage opt outs and opt ins
- re-enrol staff who have previously opted out
- monitor your clients’ workforce’s eligibility each time you or your client runs their payroll
- calculate pension contributions
- send employee data to your clients’ pension provider in the format required
- keep certain records
Common causes for businesses not complying with their auto enrolment duties on time are only discovering that their software couldn’t assess their workers on their staging data or wrongly believing that their payroll was set up to automatically produce letters.
2. Is it fully intergrated?
There are two types of auto enrolment software, middleware software and software which is fully integrated with pay roll software.
Middleware runs along side pay roll software which means that a lot of time will be spent exporting and importing CSV files and it can lead to mistakes being made.
Fully integrated software removes these problems and is very easy to use.
3. What other benefits can the software provide?
Our fully integrated affordable software manages each step of auto enrolment. It also has the following additional features and benefits:
- It is White Label enabling you to apply your own branding to it, which helps keep you in the forefront of clients’ minds.
- We share revenue generated by client software subscriptions with you, giving you an additional source of income.
- It is cloud based providing flexibility for users.
- If you or your clients need help choosing a pension scheme we can supply you with a pension selection tool allowing you to select the right scheme for your clients’staff.
- It can show a snapshot preview of your clients’ likely pension contributions costs to help them plan ahead of their staging dates.
- It provides payroll cycle alerts and automated task list prompts designed to help your clients comply with their duties.
- It provides flexible reports and graphs showing statuses at a glance giving clients the peace of mind that they have complied with their duties.
To find out more download our brochure or call our Help Desk team on 01472 730778.
Topics: Auto Enrolment, Workplace Pensions, Accountants &; Bookkeepers