ICAP opts for Ceridian UK’s forward-thinking pension reform solution
Ceridian UK, one of the UK’s leading HR and payroll providers, has won a contract to provide its new pensions Auto Enrolment module to ICAP, the world’s leading interdealer broker and provider of post-trade risk and information services.
In awarding us the contract, ICAP has been extremely complimentary about our off-the-shelf solution for managing pension reform and auto-enrolment. It undertook a lot of research into available solutions and considered we had been very forward-thinking in developing a cost-effective solution ahead of more obvious potential providers.
While ICAP’s staging date is not until September 2013, it has chosen its ideal solution well ahead of time. Of its 1,600 employees, around 1,000 will be covered by the pension auto enrolment solution, other employees already having a pension provision.David Woodward, chief product and innovation officer
Simon Hemmings, head of compensation and benefits, London and EMEA, at ICAP Plc said: “When we went to market to see what solutions were available we were frankly surprised that our payroll provider, Ceridian, had a readily available, off-the-shelf solution. It was not an obvious first choice for us. At the time, none of the other payroll providers had anything to offer and the benefits’ providers did not have fully working solutions.
By contrast, Ceridian was ahead of the game with a very comprehensive, readily available offer. Its solution works through payroll, allows for employee self-service and integrates with our pension provider. It does everything we require. Implementation will be straight-forward as it is SaaS-based.Simon Hemmings
Ceridian’s Auto-Enrolment module automatically identifies and enrols relevant employees. Critically, as payroll is best placed to determine when an employee should be automatically enrolled into a chosen pension scheme, Ceridian’s solution offers a seamlessly integrated approach between the payroll and pension auto-enrolment decisions.
The Auto-Enrolment module manages all aspects of the administration from sending automatic communication to employees to handling opt-out requests and refunds and managing the postponement periods. Manual input and clerical effort is significantly reduced and the module can manage the electronic exchange of data between Ceridian’s payroll solution and an employee’s pension provider.
Notes to Editors:
ICAP is the world’s leading interdealer broker and provider of post-trade risk and information services. The group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through its post-trade risk and information services it helps its customers manage and mitigate risks in their portfolios.
For more information, visit www.icap.com
Ceridian is one of the world’s leading HR and payroll service providers. In the UK, it works with over 5,000 businesses, large and small, delivering quality, accurate payroll and value-added HR services.
Ceridian provides national and international payroll and HR transactional services including HR outsourcing, employee benefits, workforce management, expense management, absence management plus employee assistance programmes.
Innovative Software-as-a-Service (SaaS) solutions are also offered to clients who need a technology solution but prefer to employ their own people. These leading-edge software solutions can be purchased as a complete totally-integrated package, or in scalable modules, designed to flex with organisational needs.
Through decades of global experience, people capability and first class delivery of world class HR transactional solutions, Ceridian increases quality, reduces risk, boosts revenue, lowers cost and frees time for its customers to focus on their priorities.
From multinationals to small start-ups, Ceridian’s KnowHow enables their HR development journey.
Ceridian is winner of the Payroll Provider Award, Payroll Software Product Award and Technology Development Award in the 2012 Payroll World Awards.