JargonFreeBenefits has developed a new product which director Steve Bee claims solves the automatic enrolment compliance conundrum facing small and micro-employers.
Bee (pictured) says the new product, JargonFree Pensions Compliance, will allow payroll providers and accountants to provide an auto-enrolment compliance service for companies with between 1 and 50 employees.
He says the system can accommodate weekly, monthly or fortnightly payroll cycles or a combination of these.
The factory-gate charge for using the product will be 50p a day per firm and is available through Paradigm’s licensee firms. These firms can distribute it through a sub-license to payroll providers and accountancy practices.
Bee says: “The big job with pensions compliance is to get it to the really small businesses like chip shops and corner shops.
“We have built a new product which will provide full pension compliance for small firms and, crucially, micro- employers.”
Keyte Ltd director Robin Keyte says: “I expect payroll providers to cope with auto-enrolment without having to incur the cost of using this system.”