AE Meeting

AE Meeting

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Hi there
We have a meeting tomorrow with a FA and Now:Pensions to discuss moving forward with AE.
We are a firm of accountants providing payroll solutions to between 320-350 clients. Almost half of these are director only payrolls. We are looking to provide a "full" AE package.
We will, hopefully, be migrating to Moneysoft payroll package wef 15/16 when we have our first batch of AE commencements.

What questions directed towards Now:Pensions would you think are of importance?

Many thanks in advance for any replies

Replies (11)

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By MIKE_ROHAN
04th Jun 2014 15:57

Moneysoft

Hi Kaz,

 

Have you seen moneysoft operate from an AE perspective and carry out the AE duties?

 

From the top I'd list all the job AE creates one by one, then run through with Moneysoft and confirm what they can and cant do. Then the same with Now:Pensions. That way you can be confident that the solution works and you dont have any gaps. Also its worth asking Now if they have had stagers use Moneysoft and link up successfully - worth getting their input.

 

 

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By geroge
04th Jun 2014 16:28

There are two parts - one is calcualting category (eligible/not eligible/entitled) and the other is preparing the paperwork (letters to employees etc). For small payrolls I would do former myself but buy in templates for latter

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By MIKE_ROHAN
04th Jun 2014 17:03

It sounds easy, but there is a bit to consider - not to labour the point but here's a few starters off the top of my head

 

Assessment

What category are they in?

Has this changed from last pay period?

How?

What action do I have to take?

Has anyone's postponement come to an end this period?

Calculation

Deductions due for this period

Letters

What letters need to be sent?

By when?

How do I prove my compliance?

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By Kazmc
05th Jun 2014 09:46

.

That's brilliant, thankyou for taking the time to respond.

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Replying to adam.arca:
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By MIKE_ROHAN
05th Jun 2014 10:21

AE

No problem.

 

There's more to it than first meets the eye, especially if you're operating a bureau. If I have 1 company with 10 staff and they are all salaried and we have very little staff turn over then my job is much easier than someone juggling a good few hundred payrolls.

 

What seems like a small work around in principle might take up hours per week with the volume you're talking about.

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By MattAtNurture
26th Jun 2014 14:06

Nurture pensions

From what I have read it sounds like your administration side behind the AE process is very complicated and time consuming. We have an AE system that has been deemed very simple to use for all levels of experience in terms of AE.

 

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By Mick Milne
26th Jun 2014 15:38

AE meeting

I went from an AE meeting to an AA meeting  :)

If I had 300+ clients i'd be investing in a more automated system like MattatNurture seems to have.

I find the underlying process quite time consuming - admittedly I am only part time and my biggest client has a horrendous staff turnover, with 200 employees

Moneysoft is good but it's not automated like Iris or any of the more expensive packages.

My question to Now; (and the answer will probably be no) - with that many clients, is there away for you to upload multiple employer/employee details in one go.  The upload process into PeoplePension is fun, and that's just one uplaod spreadsheet per month - if I had that x 300 I really would be in an AA meeting.

If you could up upload all you clients in a batch that would be a good time saver.  How do others deal with this?  I guess we haven't yet seen the volume of AE at the smaller company level for this to be a problem yet?

 

cheers

Mick

 

 

 

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paddle steamer
By DJKL
26th Jun 2014 16:23

I would be careful of straying into giving Financial Advice

 

My slight concern is, are you proposing a one size fits all re the payrolls you run? i.e. all with NOW.

I would be hesitant with that approach as even suggesting which provider might be a fit for a client could, in an uncharitable light in the future, be construed as giving financial advice. Given the recent claims etc re PPI etc, could AE be the PPI of the future?

I attended a meeting on AE about two weeks ago and those explaining it were at great pains not to be seen as possibly suggesting any particular provider, the nearest they got to this was indicating that NEST was probably the provider of last resort as it provided virtually no admin support re the process, both initially and ongoing.

I would accordingly go slightly cautiously even if your firm is registered to give financial advice.

 

 

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By jon_griffey
26th Jun 2014 17:21

Iris

I have been researching the Iris AE offering.

Very early days but it looks very, very promising.  They have AE and communications bolt-ons for the payroll software.  Essentially when running the payroll the software assesses the workers and does the AE stuff seamlessly and then emails all the AE communications to the employees (or a portal) and uploads the file to the pension company. 

Iris are never the cheapest option but if their solution takes away the whole pile of headache that it promises it will be money well spent. 

Catch their webinars that they have running at the moment.

You will need the input of an IFA to set the scheme up as the normal regulation applies.

 

 

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By Kazmc
27th Jun 2014 14:34

After the meeting....

Mick - love your comment "Straight from AE meeting to AA meeting" - very apt!

Was pleasantly surprised that Now:Pensions will process all the admin side of things on our behalf which is great. So basically, from what I can gather at this basic level so far, is that we will download from Now each month files showing any changes ie Increase in %, opt-outs etc which we then process through the payrun (managing who is in/out etc). Once the payrun is finalised we then upload the file to Now for them to update their system. We initially provide personal details incl email addresses and Now will then take over all the admin, contacting the employees directly.

We are currently staging our own company early so we can go through the process step by step so we get some idea of the scale of things to come!

 

 

 

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By xtraman88
01st Jul 2014 10:56

Auto Enrolment what it really means for accountants & bookkeepers!

In the confusing world of Auto Enrolment accountants and bookkeepers are being bombarded with solutions all claiming to be better than each other and will solve your Auto Enrolment needs.

Whilst the different solutions out there will carry out the on going governance link into payroll systems, or upgraded payroll systems will carry out assessments and some will produce the statutory communications to employees as required by the regulator. Your clients will have no interest in this they will expect you as their accountant or bookkeeper to sort it all out.

Before you look at any upgrades or systems you need to put your own plan in place the regulator is advising employers to start planning at least a year before they stage.

The most common response the Auto Enrolment service sector is receiving from accountants and bookkeepers is my first client that stages is in 2015 I will look at it later.

If the regulator is advising employers to start planning at least a year in advance when did you start your plan?

If you have not started planning for Auto Enrolment you will need to consider the following points.

Staging Dates

Find all your clients staging dates from The Pensions Regulators web site. Now you have your staging dates planning can start.

Assess the impact on your staffing levels

When will I need to add resources to manage this?

Can I bring forward or postpone staging dates to spread the work load or avoid annual HMRC deadline dates.

Software

When will I need to upgrade my payroll software?

Will my upgraded software be compliant?

Do I need to upgrade my payroll software or is their a more cost effective solution out there?

Charging

How will I charge my clients for increased workload and system upgrades?

Questions

How will I answer my client’s questions?

Will I need to add resources for this?

Can I outsource the whole procedure?

You now have the basic tools to put a plan in place

Clients

Write or email or phone your clients informing them of their staging dates and your plan for putting Auto Enrolment in place for them.

Arrange meeting with client Auto Enrolment will increase your client’s overheads over the first three years rising to 3% contributions in year three and then on going. Profit margins will need to be increased to cover this (A major reason for planning early).

Employee Communication

The most important part of Auto Enrolment if you are running a payroll bureau, poor communication will lead to increased payroll queries.

This is only basic advice there are lots of companies out there who will remove the Automatic Enrolment burden from you and the choice is yours please do not base your decision on cost.

Auto Enrolment is not time consuming if you put a proper structured plan in place there is plenty of help out there.

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