Auto Enrolment is here to stay. Like it or not, as small business owners we are now responsible for complying with legislation designed to sure-up everyone’s pension pot and safeguard our future. Deep down we know it’s a worthy endeavour, but today, faced with admin overload it seems like yet another unnecessary hurdle we are forced to struggle over.
If you’ve already staged, you’ll know what we’re talking about. Unless you’ve chosen to bury your head in the sand and chosen not to deal with it (you can expect a fine from The Pensions Regulator), you’ve likely already found a way to manage your responsibilities. Equally is probable, is you’re finding it a pain and are not entirely satisfied with the way you’re doing it.
For employers that have chosen to go it alone and try to manage the ongoing communications and pension contribution filings in house, we’d love to hear about your experiences…..
At AEclipse we speak to employers who are struggling to make this admin responsibility work for them on a daily basis. Depending on which payrol software your organisation uses, and which pension provider you have chosen to set up your scheme with, filing can be a painful drain on resources. Is that really what you want?
Smart employers have listened to warnings and decided auto enrolment is not a responsibility they want their own team occupying their time with; in many of these cases they’ve handed it over to their accountant. The fact is though, most accountants are struggling to make auto enrolment fit their own service model. It just isn’t profitable for them and most would rather not do it. Accountants will tell you that their clients see auto enrolment as an extension of payroll, for which prices are traditionally low. The fees just aren’t worth it for an accountant who hasn’t figured out to offer auto enrolment efficiently.
of course, they can’t actually tell you that because you might decide to sort your auto enrolment out with someone else, and before long you’ll consider moving all all your accounting business to someone else. For many firms, it’s easier to pretend they can do it, than risk losing you as a client all together.
With this in mind it’s worth contemplating whether or not your accountant is charging you an artificially high price for doing AE, or indeed providing you with an inadequate service. Have they given you a whole of market offering? Have they given your staff the communications they require? Have they considered what’s best for your business going forwards?
If they aren’t doing everything they can, a service provider such as AEclipse can be just the solution. Rather than replacing the work of your accountant, we seek to support all parties involved in order to ensure a smooth, swift and secure low cost solution for your business and your staff.
We have a simple message. We are specialists in our field. We know what we’re doing because auto enrolment is all we do. We can carry out scheme set ups and pension filings quicker and cheaper than either yourself or your accountant and we even provide access to any pension provider you wish to access, regardless of which payroll software you use. We do all this to such an extent that those accountants that can’t make auto enrolment work for them through their own systems are choosing to use AEclipse to better service their own clients.