Following the announcement that auto enrolment has passed the two million employee landmark, Ceridian, one of the UK's leading HCM technology and service providers, can reveal that it has supported many of the largest employers in complying with the latest pension reform. These companies between them employ over 570,000 people, placing Ceridian at the forefront of managing a sizable proportion of the auto enrolment population.
David Woodward, chief product and innovation officer, at Ceridian UK said:
In November, it was revealed that Nest, the government-backed pension provider, had enrolled 500,000 individual members, more than double that of its closest competitor, which puts into context the leading role Ceridian has played in supporting our customers in meeting auto enrolment compliance. Ceridian has been best placed to provide the optimal solution because payroll holds all the data and is best positioned to do the auto enrolment determination while also handling sophisticated salary sacrifice arrangements the moment pay is calculated.
</br>We are very proud of our own company milestone of covering over half a million employees with our standard off-the-shelf auto enrolment solution. This module, which is part of an integrated HR and payroll product suite, supports and automates many of the administrative burdens that pension reform has introduced, from generating mandatory communication to employees through a combination of self-service via a portal and/or printed materials, managing postponement periods to handling refunds in the payroll if an employee chooses to opt-out. As a result, manual administration is reduced significantly. The module can also manage the electronic exchange of data between our solution and an employer's pension provider.
</br>As we enter 2014, eight times as many employers will have to stage for auto enrolment presenting a number of big challenges. Many employers under-estimate the work involved in ensuring compliance and the extra costs involved in terms of employing additional headcount or choosing alternative technology and the time and expense of systems integration. Additionally, the SMEs staging in 2014 will place huge strain on providers, many of whom will not be equipped to meet the demand. Based on our experience of working with the UK's largest employers on auto enrolment, we have developed a special streamlined approach for SMEs which offers the easiest, simplest and most cost-effective solution for them to go live. It will enable them to meet their timescales and provide them with the assurance of being compliant with the complex pension legislation.David Woodward, chief product and innovation officer