Scottish Widows has launched auto-enrolment platform, AssistMe, which aims to help employers meet their obligations.
ScotWids says the platform has a single interface which employers can use to assess employees’ eligibility for automatic enrolment, calculate contributions and deal with opt-outs, opt-ins and re-enrolment.
The platform, which is powered by SBC Systems, can interface with existing pay roll systems and handle varying payroll periods.
ScotWids says the platform provides employers with the mandatory communications templates they require and generates reports to show compliance with their duties under new pensions reform legislation.
For employers who require a segmented approach, AssistMe enables use of the People’s Pension or Nest for auto-enrolment purposes alongside Scottish Widow’s group personal pension.
Head of business development, corporate pensions Lynn Graves says: “The introduction of auto-enrolment is just weeks away and we recognise the challenge this will bring to employers and advisers.
“Technology and employer flexibility are crucial to making auto-enrolment a success and we have built these into the very heart of our new solution. We know from our market research that employers are concerned about the administrative requirements of auto-enrolment and the Scottish Widows AssistMe solution directly addresses this concern.”
Hargreaves Lansdown head of advice Danny Cox says: “Payroll providers have been a little slow and employers are looking to the pension providers to fill the gap. This type of system should help the process.
“Much will depend upon how these systems run in practice and key to the success of auto-enrolment will be the commitment and engagement from the employer.”