18/05/2016

1

Automatic enrolment is a game changer!

How you can win new business

Presenter: William FinchPayroll Intermediary Relationship Manager

Accountex, 11-12 May 2016

Agenda• Automatic enrolment – where are we now?

• How automatic enrolment affects employers and how you can help them

• Building an automatic enrolment service proposition for your clients

• Using The People’s Pension as an ideal solution

• Seamless integration between payroll software and pension providers

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2

Automatic enrolment –where are we now?

12,900 11,500 17,900

99,000 92,000123,000

156,000

202,000224,000

349,000

264,000252,000

0

50

100

150

200

250

300

350

400

Q12015/16

Q22015/16

Q32015/16

Q42015/16

Q12016/17

Q22016/17

Q32016/17

Q42016/17

Q12017/18

Q22017/18

Q32017/18

Q42017/18

Source: The Pensions Regulator

Nu

mb

er

of

em

plo

yer

PAY

E sc

he

me

s (0

00

s)

The size of the opportunityEmployer staging profile

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3

Master trustsA key option for automatic enrolment

51%46%

3%

DC scheme split

Master trust

GPP

Other DC trust

41%

33%

10%

10% 3%

3%

Master trust membership

Nest

The People's Pension

Bundled DC MT

Now

The Pensions Trust

Other MT

Source: TPR Automatic enrolment Commentary Analysis (July 2015); Spence Johnson (2014)

The People’s Pension overview

The UK’s largest private sector automatic enrolment pension scheme

Auto-enrolled nearly 2m members

Staged over 15,000 employers

Nearly £800m assets under management

Defaqto 5 Star Rating

Figures as at 29 February 2016

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4

How automatic enrolment affects employers

What do small businesses want and how you can support them

Automatic enrolmentA summary of employer duties

Register scheme

Inform all employees

Enrol certain employees

Keep recordsMake

payments to their pension

pots

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5

Your help is needed…now!

want help rightfrom the start

73%intend to look to an accountant for help

59%

Source: NEST insight, July 2015

Building an automatic enrolment service proposition for your clients

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6

What can you do to support your clients?

What can you do toFind out staging date

Explain automatic enrolment duties Help to choose

pension provider

Ongoing management of scheme

Membercommunications

Tiered servicesAn example service menu

GoldSet up scheme

Pre-staging support

Manage the process

Submit file to provider

Ongoing member comms

£50

£100

£20 per month

£10 per file

£20 per member

SilverSet up scheme

Manage the process

Submit file to provider

Bronze

Manage the process

£20 per month

£50

£20 per month

£10 per file

Manage the process

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7

Our solution for you and your clients

A package that will help you and your clients comply with automatic enrolment

Signing up with usChoice of set up

Simply Tailor

Offers a customised online sign up processScheme can be tailored:

Postponement

Complex multiple payrolls

Variable contributions

Tax relief at source

Simply Comply

Offers a simplified online sign up processMinimal information based on defaults:

No postponement

Weekly and monthly payrolls only

Qualifying earnings only

(1% employer, 1% employee)

Tax relief at source

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Simply Comply routeSet-up really is this quick!

Here for our customersEmployers, advisers and payroll operators tell us:

• Our scheme works

• Easy to use online

• File uploads work

• UK phone team resolve issues first time

Customers benefit from:

• UK-based call centre – extended hours

• ASK – online help facility

• Resource library – downloadable guides and help videos

• Training mode – available on employer account

• Web chat – to guide through scheme set-up

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One off set-up chargepayable by the employer

Passing on employer costs to the member isn’t the right thing to do

Low 0.5% annual management charge

Employer pays at sign up by direct debit or debit/credit card

Existing B&CE customers, whatever their product, will not pay a charge

£500Plus VAT

£300Plus VAT

If introduced

or

Payroll integration

Making administration easier

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Making life easier for you and your clients:

No more time-consuming manual uploads

Reduced risks of file upload errors

Simplified processing

Improved cost effectiveness

The People’s Pension is partnering with

Seamless data transferA process that runs like clockwork

Seamless data transferFrom employer, via payroll software, to us

EMPLOYER PAYROLL SOFTWARE THE PEOPLE’S PENSION

Employee data would not transfer smoothly…

…requiring time-consuming manual uploads…

…transferring employee data to us was problematic…

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Seamless data transferFrom employer, via payroll software, to us

EMPLOYER PAYROLL SOFTWARE THE PEOPLE’S PENSION

Employee data can transfer seamlessly via payroll software directly to The People’s Pension

Automatic

enrolment is

your chance to increase your

client base

The People’s

Pension – the ideal partner for your client’s

automatic

enrolment solution

Summary

Automatic

enrolment will

affect all of your clients –

they need your

help!

18/05/2016

12

Thank youAny questions?

thepeoplespension.co.uk/payroll

payroll@thepeoplespension.co.uk

01293 586666

ask.thepeoplespension.co.uk

Come and speak to us at Stand A126