Auto Enrolment: 7 Steps to Profit with BrightPay, Guest Speaker: NEST

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Auto Enrolment: 7 Steps to Profit with BrightPay

NEST - Helping make auto enrolment work for you

By Paul Byrne, BrightPay

By John Hale, NEST Corporation

By Paul Byrne


By John Hale

NEST - Helping make auto enrolment work for

you

Q&A SessionQuestions Tab or #BPWebinars

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Q&A

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Webinar AgendaAuto Enrolment as a Service

Automate & Streamline Auto Enrolment Task

Auto Enrolment Penalties

BrightPay’s Approach to Automatic Enrolment Introducing BrightPay Cloud - Online Backup & Employee Self Service

7 Steps to Profit from Auto Enrolment

Auto Enrolment as a Service

Small Employers and Auto Enrolment


293,868Employers completed

declaration of compliance

1,200,000Employers who have yet to

reach their staging date


Small Employer Market• Large and medium employers: HR

personnel to help with auto enrolment

• Small and micro employers: lack of in-house expertise

• No knowledge or experience to make informed AE decisions

• Gift wrapped business opportunity


Employers with less than 50

employees

of an accountants client base is made up

of:

90%

• Are you ready or prepared to take on auto enrolment business?

• What level of support / information will you offer?

• Are you prepared for employers coming to you last minute?



1.Time saving

2.Cost saving

3.Focus on core areas

4.Expertise

• Generate income and enhance client relationships

• AE provides a new platform to reach and upsell to

• Employers will be happier to consolidate all their outsourced services to one person


Automate & Streamline AE Tasks

• Having the right payroll tools will play a fundamental role in ensuring the success of auto enrolment

• TPR recommends using an integrated payroll and auto enrolment solution

• Ensure that your payroll software provider will provide all the necessary functions to automate the employer admin tasks

Streamline Auto Enrolment

Streamline Auto Enrolment• Speed of automation offers significant

cost savings to bureaus

• Useful when employers approach you close to, at, or even after their staging date

• With the right tools, auto enrolment should become a seamless part of the payroll process

Does Your Payroll Software…

1. Assesses your workforce automatically?

2. Allows the use of postponement?

3. Customise employee communications?

4. Calculate and deduct pension contributions?

5. Handles opt-in and joining?

Does Your Payroll Software…

6. Handle opt outs and refunds?

7. Notify you when actions need to be taken?

8. Keep records and provide reports?

9. Integrate with various pension providers?

10.Provide free support?


• TPR will enforce penalties if the employer ignores AE

• Those who do not carry out the AE duties in accordance with the law will face enforcement action and penalties


Statutory Notice

Penalty Notice Court Action

Auto Enrolment PenaltiesInformal action

Statutory notice

Penalty notice

Escalating penalty notice

Civil penalty notice

Prohibited recruitment conduct penalty notice

Auto Enrolment Penalties• TPR sources of intelligence;

1) Receipt of a declaration of compliance2) Notification by a pension scheme of non-payment of

monthly pension contributions3) Employee whistleblowing


34,703

Total automatic enrolment cases closed to date

26,040

Compliance Notices Issued

6,779

Fixed Penalty Notices Issued

Auto Enrolment Penalties• Missed staging date – most common reason for TPR

enforcement action• Within 6 weeks of the staging date – issue

postponement letters to employees• Otherwise AE will need to be backdated to the staging

date

Get in touch with the Pensions Regulator

Register with a pension provider

Assess your employees

Communicate with employees

Backdate any missed contributions

Complete your declaration of compliance

Missed Staging Date – What to do

BrightPay’s Approach to Auto Enrolment

7 Steps to Profit with BrightPay

Minimise Costs

Simplify & Automate

Pre-Assessmen

t ToolIncrease Revenue

Pension Integration

Importing to

BrightPayBrightPay

Cloud

Minimise Costs• Avoid any unnecessary costs

• BrightPay Bureau Licence: £229 + VAT– Unlimited employers– Unlimited employees– Free phone & email support– Full AE, CIS & P11D functionality

Minimise Costs

Simplify & Automate

Pre-Assessmen


Pension Integration

Importing to

BrightPayBrightPay

Cloud

Simplify & Automate

Minimise Costs

Simplify & Automate

Pre-Assessmen


Pension Integration

Importing to

BrightPayBrightPay

Cloud

Pre-Assessment Tool

Minimise Costs

Simplify & Automate

Pre-Assessmen


Pension Integration

Importing to

BrightPayBrightPay

Cloud

Pre-Assessment Tool

Minimise Costs

Simplify & Automate

Pre-Assessmen


Pension Integration

Importing to

BrightPayBrightPay

Cloud

Increase Revenue• Finding the right pricing strategy will be a

key factor to increasing profits

• How to increase charges for Auto Enrolment without losing clients

• Free auto enrolment guides and webinars

Minimise Costs

Simplify & Automate

Pre-Assessmen


Pension Integration

Importing to

BrightPayBrightPay

Cloud

Pension Integration• Direct integration with NEST

and Smart Pension (API)

• Avoid having to manually create enrolment and contribution files

• Saves bureaus time and reduces data processing errors

Minimise Costs

Simplify & Automate

Pre-Assessmen


Pension Integration

Importing to

BrightPayBrightPay

Cloud

Importing to BrightPay• Easy import from other payroll software

providers including Sage, Iris & Moneysoft

• Ability to import via FPS or CSV

• Seamless import from HMRC Basic PAYE Tools at the click of a button

Minimise Costs

Simplify & Automate

Pre-Assessmen


Pension Integration

Importing to

BrightPayBrightPay

Cloud

BrightPay Cloud• A number of additional benefits to

bureaus, clients and employees

• BrightPay Cloud bulk pricing – allows bureaus to charge their clients retail price of £49

• Bureau with 200 employers can make up to £7,30 per year

Minimise Costs

Simplify & Automate

Pre-Assessmen


Pension Integration

Importing to

BrightPayBrightPay

Cloud

BrightPay Cloud

Questions & Answers

For more information visit www.brightpay.co.uk, email [email protected] or phone 0845 3004 304

http://www.brightpay.co.uk/

mailto:[email protected]

NEST public

NEST worksDecember 2016

© NEST Corporation 2015

Legal information© NEST Corporation 2015. All rights reserved. This information doesn’t constitute financial, investment or professional advice and shouldn’t be relied on.

We don’t make any personal recommendation or give advice to employers and their workers on how to make investment decisions. If you’re considering using NEST you might want to talk with an appropriately qualified financial adviser.

We don’t give any undertaking or make any representation or warranty that this document is complete or error free. We don’t accept responsibility for any loss caused as a result of any error, inaccuracy or incompleteness.

Any form of reproduction of all or any part of these slides is not allowed.42


NEST works…for auto enrolment

Purpose-built Well run Online and easy to use

Established by government Not for profit It’s all we do

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NEST works…….

Free to use Low cost for members

Same for everyone

Opt outs made easy Others can help run NEST

NEST 2031 Retirement Date Fund





Award-winningdefault fund

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How to make auto-enrolment work1. Know your Staging Date

2. Choose your pension provider

3. Check your payroll can deal with auto-enrolment

4. Can your payroll produce files compatible with your provider’s requirements

5. Or better……. can your payroll send data to your pension provider via web services?

6. Make sure your pension scheme set up matches the way your payroll works (e.g. if you pay weekly then you will need a pension scheme that can deal with weekly pay etc)

7. Issue the statutory communications in good time

8. Build processes to send data and make payments that work each pay period

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Employers

NEST works for…Members

229,000+

3.9m+Over £1.3 billion

funds under

management

13,000+

46

NEST Connectors


Connect with us at linkedin.com/company/nestpensions

Follow us @nestpensions

Visit nestpensions.org.uk/professionalshelpingemployersand sign up for our monthly newsletterVisit nestpensions.org.uk/events for our webinars

Questions & Answers

For more information visit www.brightpay.co.uk, email [email protected] or phone 0845 3004 304

http://www.brightpay.co.uk/

mailto:[email protected]