Guidance for employers on costs of automatic enrolment
08 March 2016
The Pensions Regulator (TPR) has updated their employer guidance to include costs of automatic enrolment.
The aim of the content is to provide reassurance to employers about the costs and time to implement automatic enrolment and to allow them to make more informed decisions about the level of support they may choose to ask for from business advisers.
While TPR expect many employers to be able to get ready to meet their AE duties without having to pay for advice and support, they recognise that some employers will want the comfort of additional support. The guidance aims to help employers understand the services available and range of costs they might expect to pay for those services. Equally, it should help employers to avoid being misled into thinking they need to pay for additional services and advice that aren’t actually necessary.
The guidance is intended as a high level guide in order to facilitate discussions between employers and their business advisers/payroll systems/pension scheme, and not to be prescriptive or to provide a ‘shopping list’ of services and related costs.
The business advisers guide to automatic enrolment will be updated shortly to reflect the new guidance.