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Auto Enrolment – A New Revenue Stream for Payroll Bureaus

Creative Auto Enrolment: Auto Enrolment Made Simple

By Paul Byrne

By Steve Johnstone

By Paul Byrne

Auto Enrolment – A New Revenue Stream for Payroll

Bureaus

By Steve Johnstone

Auto Enrolment Made Simple

Q&A SessionQuestions Tab or #BPWebinars

CompetitionTwo BrightPay 2015/16 bureau licences

On DemandThis session is being recordedREC

Q&A

WIN

Auto Enrolment – A New Revenue Stream for Payroll Bureaus

• Accountancy Practice for 20 Years• Payroll software development• Expanded into the UK – BrightPay &

Bright Contracts• 80,000 employers across the UK &

Ireland use our products

Paul Byrne

• Auto Enrolment Overview• Small Employers are unprepared

for Auto Enrolment• A New Revenue Stream for Bureaus• Auto Enrolment Software Solutions • BrightPay’s Key Take Aways 

Agenda

Auto Enrolment• Government initiative – Save for later life

• Rolled out in stages: Oct 2012 – Oct 2018

• All employers required to offer a workplace pension scheme to eligible workers.

Auto Enrolment

• Aged between 22 and State Pension age

• Earn more that £10,000 per year• Work, or ordinarily work, in the UK

Eligible Jobholders

Non Eligible Jobholders

Entitled Workers

Auto Enrolment

Auto Enrolment Responsibilities

1. Set up a Pension Scheme2. Staging date – Assess the workforce3. Communications4. Declaration of Compliance5. Ongoing Duties

Auto Enrolment

Look to accountant, bookkeeper, or payroll bureau for advice and counsel

Look up clients staging dates on The Pensions

Regulator’s website

78%

Small Employers are Unprepared for Auto Enrolment

1,250,000Employers Yet to Stage

60,000Staged to date

29%78%

39%50%50% of those already enrolled turned to advisors very close to staging

3 out of 10 payroll administrators – clients will rely on them completely

39% – Clients would be able to deal with AE administration demands

8 in 10 – believe clients would wait last minute to seek advice

A New Revenue Stream for Bureaus

ChallengesRecent challenges for payroll bureaus:

• RTI• iXBRL• FRS 102

Auto Enrolment is the one new change that you can make a profit from.

Key Points1. Employers will need help from payroll bureaus2. Employers will come to you last minute for assistance3. Employers will be happier to consolidate all their

outsourced services to one person or advisor

Key Questions1. Are you prepared to offer Auto Enrolment services to

clients?2. Are you willing to lose clients if you do not offer Auto

Enrolment services?3. Will you make a profit from Auto Enrolment?

A New Revenue Stream• Potential - Gain new

clients• Increase fees with existing

clients• Short window of

opportunity to position themselves as open for business

A New Revenue Stream• Establish yourself as a

proactive rather than a reactive AE advisor

• Naturally increase profits• Necessary level of service

– initial set up fee plus a monthly retainer

Auto Enrolment Software Solutions

Software Solutions• Average 33 administrative tasks• Automate employer responsibilities• Combined payroll and auto enrolment solution• Greater efficiency, increased value, improved cost savings

Software SolutionsPayroll software that automates auto enrolment tasks is vital:

• Employee assessment• Personalised communications• Ongoing monitoring• Opt-outs & refunds• Mandatory reporting• Pension contribution deductions

Software Solutions• Does your payroll software provide Auto Enrolment

functionality & support?• BrightPay – an easy to use Auto Enrolment solution• Everything you need to provide a profitable AE service to

your clients

OFFWebinar50

* Offer applies to new customers who switch to BrightPay from another payroll software provider for the first year subscription only. This offer applies to BrightPay 2015/16 bureau licence only and does not work in conjunction with any other offer.

How BrightPay Handles Auto Enrolment

Key Take Aways

By Steve Johnstone

Auto Enrolment Made Simple

http://bit.ly/1H30vPA

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Monday 7th December @ 10.00 am

https://www.brightpay.co.uk/events/1039/

CPD Accredited:Auto Enrolment Training for Payroll Bureaus

By Paul Byrne & Victoria Clarke

99.3%Customer

satisfaction rate

99.5%Describe interface

as user friendly

98.8%Would recommend

BrightPay

98.5% Satisfied with

Customer Support

Accredited by ICB - Read here

“The BrightPay user interface is superb and makes data capture

painless.”“The language used is easy to

understand and minimises the use of payroll jargon.“

Questions & Answers

For more information visit www.brightpay.co.uk or phone 0845

3004 304