auto enrolment - 5 steps to bureau success

The webinar will begin shortly...

Auto Enrolment - Five Steps to Bureau Success

How to choose a quality scheme and not get lost trying to navigate the auto-enrolment jungle

By Paul Byrne

By Henry Cobbe

By Paul Byrne

Auto Enrolment - Five Steps to Bureau

Success

By Henry Cobbe

How to choose a quality scheme and not get lost trying to navigate the auto enrolment

jungle.

Q&A SessionQuestions Tab or #BPWebinars

CompetitionTwo BrightPay 2015/16 bureau licences

On DemandThis session is being recordedREC

Q&A

WIN

Auto Enrolment - Five Steps to Bureau Success

• 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

• UK Payroll Landscape• Small Employers & Auto Enrolment• Lack of understanding surrounding Auto

Enrolment• Auto Enrolment Penalties • Profit from Auto Enrolment• Are you Open for Business?

Agenda

UK Payroll Landscape

Entitled Workers

Non Eligible Jobholders

Eligible Jobholders

Auto Enrolment Overview

Eligible Jobholders • Aged between 22 and State Pension

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


1. Set up a pension scheme

2. Assess employees

3. Communications

4. Ongoing duties

5. Declaration of Compliance

Auto Enrolment Responsibilities

Small Employers and Auto Enrolment

Small Employers and Auto Enrolment

60,861 employers completed declaration of compliance

1.8 million yet to reach their staging

date

Lack of Understanding Surrounding AE

Lack of Understanding• Large and medium employers: HR personnel to help

with auto enrolment

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

• Majority of employers yet to stage will not have the knowledge or experience to make informed AE decisions

Lack of Understanding• Information overload - confused,

bewildered and overwhelmed

• Expected that 78% of these will turn to an accountant, bookkeeper, or payroll bureau for advice and counsel

• Gift wrapped business opportunity

Auto Enrolment Penalties


• Further non compliance may result in court action.

• Responsibility for AE compliance rests with the employer.

• If employers don’t comply, enforcement action starts with statutory notices and is followed by penalty notices


3,782

Total automatic enrolment cases closed to date

2,248

Compliance Notices Issued

582 Fixed Penalty Notices Issued

Are you open for business?

• 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?

Auto Enrolment – A Chargeable Service

• Payroll bureaus must predict the evolutionary need of their clients

• Establish yourself as a proactive rather than a reactive AE advisor

• Necessary level of service for an initial set up fee plus a monthly retainer


• By offering a complete end to end solution, bureaus can generate income and enhance client relationships.

• If you offer other services, auto enrolment will provide a new platform to reach and upsell to.

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


Value Proposition for your Clients

1.Time saving

2.Cost saving

3.Focus on core areas

4.Expertise

Profit from Auto Enrolment

Opportunity for Profit• Considerable opportunity– Gain new business– Retain client base– Increase profits

• Perfect platform to acquire new clients while building a long term, sustainable business.

1. Engage your clients

2. Avoid Penalties

3. Open for Business

4. Increase Revenue

5. Software Solutions

5 Steps to Bureau Success

• Engage with clients who have not yet staged• Find out clients’ staging date – http://bit.ly/1EuooiJ • Be proactive – let clients know that you are open for AE

business• Communicate AE service offering & pricing• Risk of losing some or all of your payroll clients

1. Engage with your Clients

http://bit.ly/1EuooiJ

http://bit.ly/1EuooiJ