Following the SimplyBiz auto enrolment roadshow, which saw nearly 1,000 IFAs attend a series of 10 seminars, Simply Enrol partner Creative Auto Enrolment is encouraging advisers to take control or lose control of auto enrolment as almost 40,000 businesses prepare to stage this year.
“What’s clear from meeting so many advisers during the Simply Enrol roadshows is that they are still seeking clarity on many aspects of auto enrolment” explains David White, MD of Creative Auto Enrolment. “Many of the advisers we spoke to were overawed at the complexity of the process and just how big a task the project is for employers.”
Creative Auto Enrolment’s recent report with Cebr found 33 different admin tasks involved in the preparing for staging, in addition to the work required for meeting auto enrolment legislation on an ongoing basis.
White adds that this is further evidence that 2014 is the year that auto enrolment really “takes off”. Although over 3000 businesses have already staged, these have been large businesses with in-house capacity to handle the process. “Now that we’re approaching staging dates for SMEs, the real work will begin for IFAs and other business advisers” he adds.
“Auto enrolment is a unique beast for advisers because it’s primarily a business challenge that just happens to have a pensions aspect to it. But with £2.8bn of revenue at risk for advisers who fail to prepare adequately for the challenge of advising their clients, it’s key that they take control, not lose control, when it comes to auto enrolment. Our complete end-to-end solution has proven very popular among advisers for this very reason.”
David Golder, client proposition director at SimplyBiz said, "We are delighted to be working with Creative Auto Enrolment on this crucial initiative which will ensure that advisers are equipped to help employers satisfy their compliance obligations but also move on to create a genuine benefits culture in the SME workplace.”
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