Fulfilling the duties laid down by Pension Automatic Enrolment will prove a challenge not only to employers across the UK but also to the Professional Advisers that support them. It is perhaps more important than ever that Advisers from across the Corporate Advice community work together to assist clients with the common aim of making employer Pension Automatic Enrolment duties less daunting.
That is one of the reasons behind our decision to create a completely independent and unbundled end to end proposition with the sole aim of providing employers and the professional adviser community a solution to the challenges faced.
AGL Corporate Services will work with the many professionals that provide advice and other services to UK employers, ranging from Accountants, Payroll providers, HR specialists, Legal Professionals and Financial Advisers. Our aim is to deliver Pension Automatic Enrolment services that complement the services already provided by these professional advisers.
We will agree with you what services will be required so there is never any confusion over who is delivering what service to your client, and of course we will always refer back the services not provided or offered by AGL Corporate Services.
We believe that employers will ask for assistance with Automatic Enrolment from any number of sources:
Accountants and Payroll Providers
We believe that the work done on Real Time Information will complement an effective automatic enrolment solution. The ability to manipulate and record this type of data will be required to provide an effective Automatic Enrolment solution.
Wherever there is regulation, businesses will need legal advice and support to guide them through the issues and challenges they face. Our own ‘Employers Guide’ will be a very useful starting point for businesses looking to understand things like the basic costs of auto-enrolment and with helping them make the best of the choices available to them. However, many employers will also need to review things such as the contracts of employment they use to ensure that they meet the enrolment requirements laid down by the new legislation. Working with legal professionals who understand the legislation will be invaluable for many employers trying to get to grips with their new duties.
Human Resources (HR) Consultants
Many employers building an automatic enrolment strategy will need HR support whether it is from an ‘in house’ team or out-sourced, AGL Corporate Services can provide the guidance, support and systems for an effective automatic enrolment solution.
Financial Advisers will already be aware of the legislation and indeed may be responsible for dealing with any existing advice. However, they may not want to get involved in the administration or staff communication duties that will be required when dealing with Pension Automatic Enrolment. AGL Corporate Services will put in place a complementary service that runs alongside the existing advice support already provided.
Managing the data and putting in place an effective communication process will bring challenges to everyone who supports an existing pension scheme, especially when dealing with employees that have traditionally not been given access to their pension scheme. Whilst of course Pension Administrators will already be aware of the legislation, they may not wish to get involved with data management and communication for every employee. AGL Corporate Services can work with Pension Administrators to complement the services already provided.
Whilst Actuaries will be aware of the legislation, many may not want to deal with the scheme design, data management and communications that come with dealing with Pension Automatic Enrolment for all of their clients. It may also be that the designated workplace pension scheme used for Automatic Enrolment is not one that the actuarial firm can or would want to support. We would be very happy to work with any Actuarial firms to assist their clients with Pension Automatic Enrolment.
AGL Corporate Services believe that we can add value through our auto enrolment support and telephony service to any one of the professionals listed above. Whether it is delivering a bespoke standalone solution or simply to complement the services provided by the existing adviser, our approach is always to act in the best interests of all parties involved to design a flexible Auto Enrolment solution.
We are fully committed to working in partnership with other Professional Advisers to provide a robust platform that ensures employers are better prepared to deal with their Pension Auto Enrolment duties. If you’d like to consider AGL Corporate Services we are firmly here to support companies and their advisers and would love to help.
For more information on auto-enrolment please visit our dedicated sitehttp://ae.aglcorpserv.com/ or call 0141 314 3765 or 0131 240 3830.