Pensions, payroll and software industry voices concerns and gives guidance for auto enrolment 2016
Delegates from across the country gathered yesterday for the Capacity Crunch Conference in London.
Delegates from across the country gathered yesterday for the Capacity Crunch Conference in London. The event, which was hosted by The Chartered Institute of Payroll Professionals (CIPP), brought together the most knowledgeable and experienced heads within the pensions, payroll and software industry to debate if small and micro businesses are ready for staging auto enrolment in 2016.
The event was led by Andy Agathangelou, founding chair of friends of automatic enrolment (FoAE), to help the industry manage auto enrolment and the challenges it brings. FoAE helps brings together key players within the industry to discuss the risks and solutions to not only cope but also succeed.
Delegates voted on the very real risk of non-compliance which resulted in a huge majority of 82% of attendees believing there will be wide spread non-compliance. In addition, attendees also looked at solutions and a new guide was unveiled which will help small and micro businesses through auto enrolment in January 2016. The guide, which has been developed by the FoAE Governance Task Force, was created in response to the widespread market anxiety around auto enrolment and the need to help smaller businesses who may not be able to cope as well as the big players.
Andy Agathangelou, founding chair of FoAE, said: “We know from speaking to our members and the industry that many people have flagged the issue of how small businesses have concerns and pressing questions. The guide will act as additional aid and help businesses through auto enrolment and hopefully put many people’s minds at ease.”
The guide covers areas including:
Safeguarding employees in relation to their pensions
Choosing and establishing a pension scheme
What data is needed
David Stripp, of David Stripp Consulting, led the Governance Task Force and added: “We knew there was a need for a plain English and action-orientated guide which would motivate employers to prepare without a delay. Several of us, including Kim Gubler of KGC associates, have been working on the guide for some time now. We’ve also been lucky enough to have input from The Pensions Regulator which has helped us produce a fantastic bite-size guide.”
To request a copy of the guide and any media enquiries, please contact firstname.lastname@example.org or 0121 712 1000 or for further information on the CIPP, Capacity Crunch Conference and FoAE please visit: www.cipp.org.uk