Griselda Williams

Head of Business Development

Automatic Enrolment affects all employers at different staging dates:

*source The Pensions Regulator

Are you ready?

1,334,900 employers staging between now and 31 March 2018

Choosing an Auto-Enrolment Workplace Pension Scheme

As an employer you will want to make sure you are doing the best for your employees now and in the future

As an adviser you will want to make sure you are doing the best for your clients

We know that you will think carefully about which scheme you will choose to use for automatic enrolment

The focus for employers and their advisers is to work with a quality provider who can help guide them through this brave new world

The Pensions Regulator have suggested 7 key questionsyou need to ask when choosing a provider…

Is this a quality scheme

How simple is the scheme to use

What are your investment options

Who is managing the investments

Are you getting value for money

Who is your pension provider

Who is providing compliant communications

Transparency & Good Governance

It is important that any scheme you look at

can answer these 7 questions

is fully transparent and up front with this information

can give you assurance that they adhere to the good governance guidelines set by the DWP and TPR

TRUST|Pensions provides a detailed report “How to Choose a Quality Scheme” addressing each of these points which can be found on the home page of our website www.trustpensions.org.uk

Watch out for scams !!!

Always ask for the scheme’s HMRC Pension Scheme Tax Reference number

Or check with The Pensions Regulator to make sure it is a legitimate scheme

Auto-Enrolment….Let’s get started!

Whether you are an employer setting up a scheme directly, or an adviser assisting a client through the process, preparing for auto-enrolment follows the same steps

Here is our 10 step process, based on the guidelines provide by The Pensions Regulator to help you get it done…

10 steps to auto-enrolment

1. Check your Staging Date

2. Nominate a Point of Contact with TPR

3. Create an Action Plan

4. Review existing scheme if any

5. Understand the Payroll Costs

6. Assessment & Communications Compliance

7. Join the scheme using an Express form

8. Register a declaration of compliance with TPR

9. Test assessment, test contributions

10. Ongoing governance

How TRUST|Pensions can help you with this

TRUST|Pensions provides an easy to use solution that will take away the burden of auto-enrolment

Core pension service is free to employer

Optional assisted sign-up and full compliance management a one-off £750 + VAT

Optional ongoing assessment & communication compliance package for £12 p.a. per employee

Annual charge to members 0.75%

If you don’t set up a scheme by your staging date…

The Pensions Regulator has the power to issue steep fines of £400 plus a daily fine of £50 for micros (1-4 staff) and £500 for SME’s (5-49 staff) for every day that you are non compliant

Three essential things to remember

Get your staging date checked using your payroll number

Get your employees to provide you with their home email addresses so the scheme is personal to them in case they leave your business

Join the scheme at least 3-6 months before your staging date in order for payroll get set up, and to do test runs. This means everything in place in good time and good order.

Encourage Employees to save…

Regulatory environment for Advisers

Multi-employer schemes (master trusts) are closely regulated by The Pensions Regulator

Referral to a master trust is not a FCA regulated activity hence can be done by a business adviser, eg accountant as well as financial adviser

Individual advice to members (eg risk profiling assistance with investment options and/or transfer out to SIPP arrangement) is FCA regulated and requires adviser to have client agreement with an individual member

Default investment manager Alliance Bernstein

Circle of

TRUST

Group life cover

Canada Life’s Simply CLASS service

Professional TrusteeBridge Trustees Ltd, 100% owned by Eversheds LLP

Accountanthaysmacintyre

Bankers HSBC

Investment platformAXA Wealth Corporate Trustee Investment Plan

Self select options Architas, LGIM & HSBC

AXA Self Investor Stocks & Shares ISA

Defaqto 5 Star Rating

Pensions Playpen

We are here to help

Griselda Williams

Head of Business Development

griselda@trustpensions.org.uk

TRUST|Pensions

Tel 0117 322 6565

enquiries@trustpensions.org.uk

www.trustpensions.org.uk

TRUST|Pensions is part of the Corporate Pensions Trust a multi-employer defined contribution only master trust, HMRC Pension Scheme Tax Reference 00805962RF

Corporate Pensions UK is a privately owned specialist pensions provider and is the main employer of the scheme. For more information see www.corporatepensions.org.uk