Creative Auto Enrolment launches solution to simplify auto enrolment for businesses
20 February 2015
Creative Auto Enrolment has launched an online auto enrolment solution in a bid to save small businesses from the herculean task of preparing to comply with the legislation. The new solution claims to cut down the administrative burden of getting ready for auto enrolment from 103 days to 103 seconds at no charge to the employer.
Commenting on the new solution, David White, Managing Director of Creative Auto Enrolment, said:
"It’s clear something needed to be done to help small businesses. Just recently, The Pensions Regulator revealed that yet more firms have been fined for failing to meet deadlines for enrolling staff into a pension scheme - an increase of 5500% in a matter of months. We’re pleased to launch our revolutionary online solution that will allow employers to get ready for auto enrolment in less than two minutes and focus on the more important role of running their business.”
Many businesses have struggled to find a pension provider in time to meet their staging date; in fact Creative Auto Enrolment’s research revealed that 66% of employers feel that choosing a pension provider and a plan for employees’ savings is one of the tasks worrying them most. With this new service, employers are pre-accepted into a pension that invests with trusted life, pensions and investments business Scottish Widows.
Peter Glancy, Head of Industry Development at Scottish Widows, said:
“Working with Creative Auto Enrolment to support the investment services for this proposition, we are able to deliver on our commitment to ensuring as many people as possible are better equipped for retirement and towards a brighter financial future.”
The Master Trust invests in funds managed by Scottish Widows, is administered by HS Admin and has PAN Trustees on board as the independent trustee.
Creative Auto Enrolment is a member of the CIPPs Friends of Auto Enrolment which has been established to assist all organisations in understanding their duties with regards to automatic enrolment, to find out more visit www.friendsofae.org.uk