Ceridian UK, one of the UK's leading HR outsourcing and payroll service providers, recently held an over-subscribed seminar on pension auto-enrolment and Real Time Information (RTI) attended by over 260 customers. Punter Southall, actuarial and investment consultants specialising in advice and guidance for company pensions, pension trustees and employees, delivered presentations on pension reform legislation and scheme design while Ceridian highlighted the impact of pension reform on payroll. Separately, meeting the RTI requirements of HRMC, starting next April, was covered jointly with the Payroll Alliance.
David Woodward, Chief Product and Innovation Officer of Ceridian UK, said:
The main focus of the presentations was naturally on pension auto-enrolment, which started for the largest organisations on 1 October. Customers from mid-sized and smaller organisations took away two key messages from the presentations. First, payroll is very much at the heart of auto-enrolment as it is only payroll that can accurately and efficiently determine when an employee should be enrolled into a pension scheme and make a contribution. You simply cannot comply accurately with auto-enrolment without payroll. Second, do not underestimate how long the planning for auto-enrolment takes. If you delay you may not be able to secure the right resources and solution. As a result, you may have to settle for second best.
</br>The biggest changes in the cost of employment to hit UK businesses in the last 15 years require technological solutions for compliance. Implementing the right solutions is essential to minimising the cost impact of these changes. Some of the solutions that look less costly at first glance end up being substantially more costly when people work through the costs of gluing them together with what they have today.
Punter Southall head of defined contribution consulting, Alan Morahan said:
Companies are battling economic conditions while, at the same time, having to plan for complex, far-reaching pension reform. We have worked with a number of organisations who have different solutions but we have chosen to work with Ceridian as we believe they have taken an extremely positive step in developing an auto-enrolment module that is extremely forward-thinking in its approach.