Auto Enrolment Solutions is exclusively offered through Ward Goodman Financial Planning Direct and has been specifically set up to deal with the auto enrolment issues facing all businesses. The “solution” is a combination of all our resources.
With the Pensions Act 2008 and the duties associated with auto enrolment, there are many key requirements that will need implementation, monitoring and rigorous reporting to the Pension Regulator. Keeping a solid audit trail and maintaining records for six years is essential to avoid potential fines or even criminal prosecution.
We are able to provide advice and provide solutions for your business to include a full payroll service, pension compliance administration, HR advice and support, financial planning advice and a software programme that will take care of all the employer duties to make sure you’re fully compliant with all the new regulations at an affordable cost.
Essentially our solution is to provide all the services needed to support your business through auto enrolment, all under one roof at an affordable cost.
The Software
Whether you are a small business or a large corporation, we are able to cater for all your requirements and build a bespoke solution for your business. Our software programme has two main functions:
Pension Compliance: Providing all the necessary tools online to prepare, implement and manage auto enrolment. The main functions of the system will:
- Carry out an assessment of your workforce to ensure each employee is correctly segmented into an Eligible, Non-Eligible or Entitled worker.
- Carry out auto enrolment of eligible workers and monitor changes to future status.
- Assess suitability of your pension scheme and/or recommend suitable schemes.
- Register your scheme with The Pension Regulator online.
- Manage opt-out notices, processes opt-ins, new employees and joining requests.
- Links to payroll for managing pension contributions.
- Maintain accurate records and a compliant audit trail of each event.
- Provides workers with information about changes where necessary.
- Provide the employer with detailed reports at the touch of a button.
- …..and so much more
In short, the system has been designed and built specifically to take care of all the ongoing duties for auto enrolment utilizing the market leading flexible benefits system.
Flexible Benefits: The system also provides a full flex-benefits platform which can be either left unused or activated, dependent on your company’s requirements. The system provides a comprehensive communication tool that enables secure 24/7 access by both employer and employee and offers the following benefits (subject to employer choice)
- Total Reward Statement
- Workplace Pension Scheme details
- Salary Exchange function
- Holiday Trading
- Group life assurance
- Health cash plan
- Childcare vouchers
- Cycle to work scheme
- Online pay slips
- Travel insurance
- Smart parking scheme
If utilised to its full potential, our system is so flexible that the small cost for implementation can often be more than offset by various tax saving strategies such as salary sacrifice (subject to suitability).
Online HR Manual and Payslips
Payslips can be uploaded onto the platform saving the need for printing which will reduce costs and encourages employees to access both current and historical payslips online. Your company HR manual can also be held online and updated when necessary.
Auto Enrolment Solutions can if required, offer a full payroll and HR service and would be happy to quote for this service
With the above online HR and payroll services it is now far easier for the employer to ensure that the relevant company information is being read by the employees thus affording valuable protection and an audit trail recorded.
Financial Planning
As a firm of independent financial advisers, any financial planning recommendation will be based on researching the most suitable solutions from the whole market place. Our financial adviser will be on hand to assist and advise on a Qualifying Workplace Pension Scheme or review an existing scheme to ensure suitability under the new pension legislation.
Our team of financial planners at Ward Goodman can advise on all aspects of corporate and personal financial planning and would be happy to discuss any future requirements with you.
With a combined rate of Employer and Employee national insurance of 25.8% you can understand why many employers are looking to reward employees using flexible benefits such as pensions, healthcare and life cover.
Go to our salary sacrifice calculator to see how your business could save using our system
Whatever your requirements, we have the solution for you. Contact us today for a free initial meeting to discuss your requirements and a demonstration of the system.
Please click here visit the Ward Goodman website for details on our full range of accountancy and financial planning services.
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