October

The Pensions Regulator's 8 key questions to ask your software provider

Call

It is important to have software in place so that you can manage the requirements of Workplace Pension Reform and ensure that you are automatically enrolling the correct employees and making the correct pension contributions for them.  

The Pensions Regulator recommends checking that your payroll software can handle automatic enrolment (not all software has been updated to meet TPR regulations and some suppliers are only providing a partial solution) and has put together a recommended list of questions.  

You should ask your payroll provider if their software:

  • Assesses your workforce
  • Allows the use of postponement
  • Calculates pension contributions
  • Handles opt-in and joining
  • Handles opt-outs and refunds
  • Supports you in generating and issuing letters 
  • Keeps records and provide reports
  • Interoperates with some or all pension scheme provider systems

Read more on TPR website

If the answer is no to any of the questions above you should look at changing to a system that can meet these requirements.  Remember to allow plenty of time for familiarising yourself with new software, getting the appropriate training, set-up and configuration work, and finally for testing your new system.

How IRIS can help:

IRIS is a leading provider of compliant automatic enrolment software that can manage the whole process for you and has assessed more than 400,000 employees.  For a free demonstration of the IRIS AE Suite™ please contact the IRIS team on 0344 815 5700.

 

    This concern is something that IRIS shares and we are helping accountants and businesses every day understand sufficiently the existence or implications of workplace pensions. 
    The campaign also raises concerns over the volume of businesses needing to deal with automatic enrolment. IRIS is well equipped with scalable automatic enrolment solutions but good quality and appropriate advice is likely to come at a premium as the volume of businesses staging increases. 
    The ‘No-one gets left behind’ campaign highlights the eight things you need to know to be ready for auto enrolment including communications, data management skills, scheme selection and sheer manpower required
    The campaign also raises concerns over the volume of businesses needing to deal with automatic enrolment. IRIS is well equipped with scalable automatic enrolment solutions but good quality and appropriate advice is likely to come at a premium as the volume of businesses staging increases. 
    To find out how IRIS are helping businesses and accountants stage visit iris.co.uk/aeinsightIRIS are proud to be supporting the ‘No-one gets left behind’ campaign launched by Accounting Web. The campaign has been launched to alert as many accountants as possible to the obligations implied by automatic enrolment. 
Posted by
Julie Smith
10 October 2014
IRIS on Twitter IRIS blog IRIS on LinkedIn IRIS on YouTube