An expert panel session chaired by Si�n Harrington, publisher and editor of HR Magazine, at the 2013 Ceridian Customer Conference, organised by one of the UK's leading HCM technology and service providers, provided the 600+ delegates with an insight into the complexity of auto-enrolment pensions legislation, the need for adequate forward planning and the requirement to communicate above the prescribed minimum to gain maximum employee opt-in.
David Woodward, Chief Product and Innovation Officer, at Ceridian UK said:
I was really looking forward to our expert panel session and it did not disappoint. The comments from all those up on the stage were forthright and honest and provided considerable insight to the huge complexities involved in ensuring compliance with auto enrolment legislation.
“The legislation is unbelievably complex.”
"You need 12 months minimum to prepare. 15 months would be ideal."
"Our initial assessment suggests auto enrolment was a stunning success with less opt-outs than expected. The opt-out rate was only eight per cent."
"The real test will be in six to 12 months' time when people see how much their contributions are worth."
"It will be a challenge 12 months down the road."
"If we had to change one thing, we would pressure the provider to accept first contributions."
"The regulations are very prescriptive on communications. You need to be more than compliant, you really need to communicate the benefits."
"Auto enrolment is a big project which involves HR, finance, pensions, payroll, IT, legal and others."
"Auto enrolment is a payroll problem."
"Organisations in the main have not budgeted for auto enrolment, especially if 90 per cent of employees stay in!"
"Organisations need to ask themselves 'how do we manage risk?'"
"We see auto enrolment as an opportunity to launch a real benefit."
"Our challenge is to raise engagement from ten per cent to 90 per cent."
"An internal survey showed 87 per cent propose staying in."
"The legislation is complex." [Repeated on two separate occasions]
"The devil is in the detail."
"Organisations find it trickier than first thought."
"You need to take a holistic view."
"We need simplification."
The Ceridian Customer Conference was held on 28 February 2013 at the London Hilton, Park Lane.