Help Centre for Employers

How much is auto enrolment going to cost my company?

This is partly up to the decisions you make in selecting a scheme, the payroll set-up you have and the level of contributions that you wish to make.

Auto enrolment can include some (or all) of the following costs. However, they are difficult to generalise as they will be specific to each company:

  • Payroll costs (additional processing/interface builds/assessment costs)
  • Assessment costs (if not incorporated into the payroll costs)
  • Pension contributions
  • Communication costs
  • Additional administrative support
  • Any financial advice that you may receive
  • Internal implementation costs
  • Pension provider costs

NOW: Pensions charges a monthly employer service charge which covers the costs involved in pension scheme set up and ongoing administration support. However, it is our mission to help keep costs to a minimum.

There is a need for a member-centric solution designed for ease of use with low costs and cutting edge investment strategy, which delivers long term stable returns. ATP's in-house investment capabilities, combined with our novel and innovative… — Lars Rohde, Governor of the National Bank of Denmark and Former CEO of ATP Group
I've known ATP for many years and have enormous respect for the effectiveness of their investment strategy. I'm convinced that NOW: Pensions can become a major player in the UK and look forward to being a part of that success. — Chris Daykin, the former Government Actuary
Why do we insist on having a choice of fund manager when the evidence shows there is usually no benefit to be gained…and there is always a negative impact in terms of cost? — Anthony Hilton financial editor of the Evening Standard writing in Pensions World, June 2013
I firmly believe in NOW: Pensions' principle that everyone deserves the right to a better retirement. I look forward to being part of the team which aims to achieve this in the UK. — Win Robbins, former Head of European Fixed Income Barclays Global Investors
“Redington’s Investment Committee assigned an Approved Rating to the NPI DGF and positive on the fund.” — Redington