socialmedia linkedinsocialmedia twitter

background courses

Staging for auto-enrolment takes only 20 days

on Tuesday, 08 September 2015.

Staging for auto-enrolment takes only 20 days

Staging for auto-enrolment requires less time than previously estimated, new research reveals.

I came across this interesting article in Payroll World.

 

The survey ‘Automatic enrolment: the payroll perspective’ by Dr Iain Clacher of University of Leeds, shows the average number of days required by employers to reach staging is now only around 20 days. Earlier research by the Centre for Economics and Business Research (CEBR) in 2013 estimated an average of 103 days.

According to the new survey, the average staging times are 17.5 days for a company with less than 50 employees and 21.5 for a company with more than 50 employees.

The reduction in time is attributed to:

  1. More experience across the payroll and pension industries
  2. More payroll products having AE functionality as standard compared with 2013
  3. The greater experience of payroll bureaux in guiding employers through auto-enrolment, providing them with information and processes to make the decision-making simpler.

The survey also shows that 41% of employers are seeking guidance for auto-enrolment directly from their accountants or payroll bureau/bookeeper, broadly split fifty-fifty between the two groups.

Respondents with experience of almost 800 employer staging events and companies providing payroll services to over 3,000 employers contributed to Dr Clacher’s survey. The research was undertaken with support from software developer Systemsync Solutions, whose Pensionsync API platform allows automated transfer of AE data and is now supported by Bond Payrite, QTAC, Xero, BrightPay and Benchmark.

Dr Clacher said: “In looking at the experience of payroll bureaux, bookkeepers, accountants, and so on, it is clear that the process of getting firms compliant with AE is becoming ever more efficient.

“As we move through staging dates to firms who do not have in-house payroll, we are seeing huge gains in efficiencies, as the payroll experts used by employers have a huge wealth of hard-won experience and they are bringing this with them. Payroll professionals are making auto-enrolment work for their clients.”

Dr Clacher shared some early findings from the research at the CIPP’s Friends of Automatic Enrolment Capacity Crunch Conference in London on 3 September. Full results of the survey will be released on 16 September.

Comment

It goes without saying that the more experience you have the more experienced you become, or at least one would hope. The next hurdle of Auto-Enrolment will soon be upon us, namely Re Auto-Enrolment; are you ready for that and will there be the same results with time?