For immediate release: 25th April 2014
Workplace pensions provider NOW: Pensions and Employer Services Limited (esl) have today announced a strategic partnership to provide a flexible, cost effective and compliant solution to SMEs facing the challenges and complexity of auto enrolment.
Just 2% of SMEs have already secured a pension scheme for auto enrolment according to research* conducted by NOW: Pensions with nearly half (44%) stating that they haven’t given any thought to how they’ll find a pension provider.
By working together, implementation risk is significantly reduced with esl’s clients benefitting from a fully integrated proposition. esl’s automated assessment tool provides the required assessment and NOW: Pensions supports clients through implementation, handling all the statutory communications for all categories of employees. Additionally NOW: Pensions operates a member helpline and member website that significantly reduces the number of member queries that have to be dealt with by the employer.
Scheme acceptance is guaranteed once the online documentation has been verified. There is no scheme underwriting, no minimum membership numbers or any minimum member contribution levels.
Virginia Freeman, Director of Commercial Development, Employer Services Ltd said: “Through working in partnership with our clients, esl has developed an automated assessment solution which creates true cost saving benefits and efficiencies for auto enrolment. We have worked closely with NOW: Pensions to create a positive experience for our mutual clients; both supporting and guiding them through the complexities of their individual auto enrolment journey.”
Morten Nilsson, CEO of NOW: Pensions said: “This partnership gives esl’s clients a complete auto enrolment package which is easy to set up and requires minimal administration. It’s simple, cost effective and efficient.”
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Notes for editors:
*Research conducted by BDRC Continental business omnibus between 3rd and 13th March 2014 with SMEs up to and including 250 employees.
A leader in innovation, esl works with many of the best known UK companies, providing more than just a payroll service. Our expertise is in understanding our clients’ objectives and providing sustainable processes through our Payroll and HR solutions.
esl’s strategy is to add value by working proactively with clients to ensure we continue to match their expectations; both in the UK and internationally.
We are selected for our people, principles and professionalism. esl offers a full range of Payroll, HR and Business Services incorporating the latest technology to deliver a high quality and cost effective service.
NOW: Pensions www.nowpensions.com
NOW: Pensions is an independent, multi-employer trust serving thousands of employers and hundreds of thousands of employees from a wide range of sectors.
A subsidiary of one of Europe’s largest pension funds, Danish pension scheme ATP, NOW: Pensions offers a simple and cost effective workplace pension solution direct to employers and via advisers and the payroll sector.
In April 2013, NOW: Pensions became the first master trust to attain the NAPF’s new PQM Ready Standard. The benchmark shows employers that NOW: Pensions is a well governed pension scheme with low charges and good member communications.
The NOW: Pension Trustee Directors, whose role is to safeguard the interests of members, comprises well-known industry figures with different areas of expertise:
- Christopher Daykin, former Government Actuary
- John Monks, member of House of Lords and former General Secretary of ETUC and TUC
- Win Robbins, former Head of European Fixed Income at Barclays Global Investors
- Imelda Walsh, former Group HR Director of Sainsbury’s
- Nigel Waterson, former Shadow Pensions Minister
For further information: