Guide: day-to-day tasks — can your system manage?
This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.
Almost two thirds of pension schemes think the Government’s guidance guarantee will not provide savers with enough support, according to a survey by Mercer. In March’s Budget, Chancellor George Osborne announced that savers would be able to take their entire pension pot as cash once they reach 55. Alongside this he pledged that everyone would […]
Royal London has scrapped its single-tie annuity referral deal with the Prudential and introduced an open-architecture web portal allowing retirees to shop around with ten different providers. Money Marketing revealed last week that Royal London was reviewing its commercial tie-up with the Pru in the wake of this year’s Budget. Royal London has not removed commission, however, […]
Johnson Fleming has launched its new managed auto-enrolment service, designed to support SME businesses of up to 250 employees. The managed auto-enrolment service is not just about providing businesses with a software system for them to manage themselves, but more about outsourcing the administration of the project and scheme to Johnson Fleming’s auto-enrolment staff.
For the past few weeks I have been considering how the proposed new rules for applying inheritance tax to relevant property trusts (broadly discretionary and flexible trusts) would apply, first to trusts created on or after 7 June, and then before that date. I am going to continue with the consideration of the latter category. I […]
This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]
CYBG has completed its takeover of Virgin Money bank in a deal worth £1.7bn today. The parent company of Yorkshire Bank and Clydesdale Bank says the deal will lead to the UK’s “first true national banking competitor to the status quo.” The combined company has over six million customers with around £70bn of customer loans, […]
Protection Review chief executive Kevin Carr looks at recent market events Moving forward on mental health Some say perception is reality and, in a world driven by social media and sensitivity, the way people see things is their truth, regardless of whether their conclusions are accurate or feasible. This is not a bad way to […]
The FCA is proposing new measures to force financial services firms to disclosure how they disclose climate change risk as it zones on in the investments pension funds make. The regulator has released a discussion paper today looking atthe effects that climate change and switching to a low carbon economy will have on the UK’s […]