The proposition, which comes at a fixed fee of £5,000, is designed for employers with 2 to 250 employees. Employers with no pension plan in place or who wish to set up a new arrangement for their employees through the whole process will be assisted in identifying which employees need to be enrolled, communications, implementation and compliance with regulations.
Buck sales and marketing director David Piltz says: “There are more than one million employers with between 2 and 250 employees, that have staging dates from 1 April 2014 and there is a danger of a capacity crunch, with some companies potentially being unable to comply. Our streamlined solution provides capacity for a low fixed fee and access to four leading providers offering competitive terms together with the specialist pensions’ expertise of a leading employee benefits consultancy.”
Buck’s experts will select the pension scheme which best suits the organisation from the following providers:
Friends Life’s award winning and innovative auto-enrolment proposition enables companies to choose the services that best suit their needs, from a basic qualifying scheme through to a fully outsourced service benefiting from Friends Life’s range of record keeping, communications and technical expertise.
Friends Life managing director Colin Williams says: “We are delighted to be further collaborating with them to deliver a market-leading offering that provides relevant solutions for the diverse needs of the SME market. In particular, we are delighted to have created a Buck Consultants designed default investment solution for their clients.”
Nest account manager Graham Davey says: “NEST research shows that 9 out of 10 employers want help with automatic enrolment and solutions such as Enrolment Assured help meet that demand.”
Scottish Widows head of business development, corporate pensions, Lynn Graves says: ” We recognise the challenges faced by smaller businesses in tackling auto-enrolment and believe that, in conjunction with Buck, we can provide a robust, end to end solution for employers to help them meet their legal obligations.”
Standard Life workplace distribution director Alan Reid says: “Our solution focuses on quality for members as well as making it easy for the employer to comply with regulations, for example with online support to help at each stage and tools to assess the workforce, calculate the cost of auto enrolment and produce a comprehensive plan of the actions the employer needs to take.”