What are your options?
1) Work out your auto enrolment manually
Managing your auto enrolment manually can take you a vast amount of time and effort. Imagine having to assess each and every employee to see if they fit into a certain criteria every time you run your payroll?
2) Export your auto enrolment to a middleware provider
A middleware provider is a third party piece of software that runs outside your payroll. Middleware; whilst appearing to be free up-front, can be very costly going into years two and three.
3) Manage auto enrolment efficiently within your payroll
If you are going to manage your auto enrolment solution in-house, the most logical solution is to manage it within your payroll software. This is because all of the information needed to assess your employees already lies within your payroll software.
4) Outsource auto enrolment to a third party
What many small businesses are considering is to outsource the entire responsibility to a third party provider.
Manage auto enrolment efficiently within your payroll
Benefits to you:
- Auto enrolment assessment can be fully integrated into your payroll software.
- Once the auto enrolment solution is configured, payroll and auto enrolment processing occurs automatically every payroll run – no extra steps within your payroll process (apart from submitting the pension output file to your pension provider).
- No user input is required in the assessment process which means that there is no potential for error.
- Your business is compliant every payroll run through the different aspects of employee assessment, pension communications and pension output files.
- The auto enrolment module, offered by Farmplan as part of Earnie Payroll, is scalable: no extra time or resource is required to manage auto enrolment (e.g. 00’s companies or 000’s of employees).
- Postponement is automatically defined until the next payroll period to allow for the contributions to be processed in the next payroll run
- Removing the flexibility of postponement reduces the high risk that an error could be made and the auto enrolment is not compliant.
Contact Farmplan today to find out more about the Auto Enrolment Suite and Earnie Payroll
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