Ceridian flies past 12.5m pension auto enrolment assessments in the cloud
Ceridian has now made over 12.5 million pension auto-enrolment assessments covering in excess of 785,000 employees within some of the UK’s largest employers as well as an increasing number of SMEs.
We are playing a leading role in supporting organisations in meeting pension auto enrolment compliance and have already made more than 12.5 million assessments on behalf of our customers with both our standard cloud-based auto enrolment solution and our streamlined one for SMEs.
With the next staging date due on July 1, and only an estimated two per cent of all employers having yet auto enrolled, it is no wonder that 85 per cent of businesses are reported to be anxious about becoming auto enrolment compliant.David Woodward, Chief Product & Innovation Officer
Ceridian’s standard cloud-based auto-enrolment module ensures that organisations are fully compliant. It supports and automates many aspects of the administrative burden of the pension reform including generating mandatory communication to employees, handling sophisticated salary sacrifice arrangements the moment pay is calculated, managing the postponement periods and handling refunds in the payroll if an employee chooses to opt-out. The burden of manual administration is reduced significantly. The module also manages the electronic exchange of data between payroll and pension solutions and pension providers.
Auto enrolment represents one of the biggest challenges facing organisations and yet many are either failing to prepare or leaving staging too late. This not only presents them with a mountain to climb but ignores the logistics conundrum in terms of supplier capacity. If SMEs, due to stage in the next 12 months, have not made auto enrolment their top priority then they need to do so now before it is too late. Without doubt, the pension regulator will start applying tough penalties to those who fail to comply.David Woodward, Chief Product & Innovation Officer
A streamlined version of the auto enrolment module is also available for SMEs which offers an easy, simple and cost-effective solution to meet their staging dates and provides them with the assurance of being compliant with the complex pension legislation.