This document provides an overview of auto-enrollment legislation in the UK and the services offered by Key Financial Consultants to help businesses comply. Auto-enrollment requires employers to automatically enroll eligible employees into a qualifying pension scheme. It is being phased in over 5 years starting in 2012. Key Financial Consultants offers a complete online system that manages the entire auto-enrollment process, ensuring compliance and avoiding substantial penalties for non-compliance. Their solution works with any existing payroll or pension systems and provides full support for businesses of any size.

1. A GUIDE TO AUTO-ENROLMENT
Presented by Stephen Yaffe,
Business Development Manager & Auto-Enrolment Specialist
Key Financial Consultants Limited
Prepared for Lincoln City Football Club.
11th July 2013

2. AGENDA
 What is Auto-Enrolment?
 When is it Happening?
 What it Means to Businesses
 Compliance Deadlines and Timescales
 Benefits of Proper Preparation
 What Happens if You Do Nothing
 Our Solution for Auto-Enrolment
 Who are Key Financial Consultants
 Other Things We Can Help With
 How to Find Out More

3. WHAT IS AUTO-ENROLMENT
 Government-led legislation.
 Requires Employers to put Employees onto a
pension savings scheme that meets minimum
requirements.
 Brought in because of declining retirement
savings.
 The Government wants to create a positive
pension savings culture.
 Covers all staff in the UK aged over 22 right up to
State Pension Age
 Earnings over £9,440 (others eligible)
 Minimum contributions

4. WHEN IS IT HAPPENING?
 Started in October 2012.
 Phased in over 5 ½ years (till
Feb 2018).
 Largest employers expected
to comply first.
 Followed by mid then small
sized employers.
 Prioritised based on PAYE.
 The Pensions Regulator writes
to Employers 12 months before
their ‘staging date’.

5. WHAT IT MEANS TO BUSINESSES
 Assess and classify their workforce.
 Need to automatically enrol some
workers onto a pension scheme.
 Must maintain the scheme.
 Obligated to keep selected
records.
 Must register auto-enrolment
scheme with The Pensions
Regulator.
 Opt-outs must be re-registered
every 3 years and The Pensions
Regulator notified.
Assess
Enrol
Register
Record
Re-Register
(3yrs)

6. DEADLINES AND TIMESCALES
Review (every 3 years)
Ensure robust record keeping
covering individual jobholders and
scheme used
Records must be kept for 6
years
Ensure scheme remains
suitable and ‘futureproof’
Staging Date
Auto-enrol eligible staff (one month opt-out
window)
Register compliance with The Pensions
Regulator
Government Notification to Staging Date (12 months)
Ensure HR data meets minimum requirements
and is of sufficient quality
Choose a suitable scheme or ensure existing
scheme meets criteria for qualifying scheme
Now to Notification of Staging Date
Identify Employer
(Groups, Subsidiaries, Takeovers and
Mergers)
Identify PAYE Schemes Categorise Workers

7. BENEFITS OF PROPER PREPARATION
 Resolve complex issues beforehand so
staging date isn’t missed and fines are not
imposed.
 Group or Subsidiary companies know their
legal requirements and don’t risk multiple
fines.
 Planning ahead allows accurate assessment
of costs involved in implementation and
budgeting.
 Identifies potential admin issues and allows
time for resolution.
 Identifies areas of weakness or inefficiency in
record keeping, HR systems and payroll.
 Employers can streamline and rationalise
existing schemes by planning in advance.

8. DOING NOTHING
Auto-enrolment is NOT optional for employers. The Pensions
Regulator is responsible for ensuring that you comply with your
employer duties. Failure to comply can result in:
500+
Employees
• £10,000
per day
250 - 499
Employees
• £5,000
per day
50 – 249
Employees
• £2,500
per day
5 – 49
Employees
• £500
per day
1 – 4
Employees
• £50
per day
£400 Fixed Penalty Notice followed by escalating penalty notice
PER DAY of non-compliance as follows:
Companies that persistently encourage
employees to opt-out, will be hit with fines of
£1,000 to £5,000 per day depending on company
size. As well as substantial fines, individuals may
even face imprisonment for non-compliance.

9. Features Benefits
Complete, web-based system. Employer does not have to install software
onto their computer network – they don’t
even need to have a computer network.
Agnostic Solution No need for Employer to change their
existing pension provider or benefits
system. It integrates seamlessly with
existing processes.
All-in-One System Plugs into and works with any existing
payroll software, pension and benefits
schemes that an Employer has in place
already. Will also work with these systems
an Employer may want to bring in.
Easy to Use Summarises and manages workplace
benefits in one place and designed so
that employees can use it too – not just
accountants and/or payroll.
OUR SOLUTION

10. Features Benefits
Full Interactivity With Employer’s permission, Employees
can access info on their benefits 24/7 from
any internet-enabled device – including
smartphones.
Complete Compliance Manages the entire process of auto-
enrolment compliance, ensuring
Employer’s do not get fined..
Handles All Types of Pension Schemes Deals with any type of scheme from
Defined Contribution , NEST, SIPPS, Group
Stakeholder Pensions or Self Administered
Schemes. Employers needn’t worry about
switching what’s already in place.
Eliminates Inefficiencies Allows Employers to take control of their
workplace benefits. Saves time, cost and
resources on manual processes.
Scalable and Affordable Pricing system means that it’s affordable
to any size company from 5 to 50,000
employees.
OUR SOLUTION

11. WHY CHOOSE US?
 Independent Financial Advisors offering
unbiased, jargon-free advice.
 Practical advice and guidance to businesses
of all sizes on implementing and reviewing
Employee Benefit Schemes.
 Over 40 years of combined experience in
financial advice.
 Specialists in post-retirement income.
 Dedicated professionals that you can speak to
directly, rather than account administrators.

12. WHAT ELSE WE DO
Retirement
Planning
Employee Benefit
Schemes (including
reviewing)
Group Income
Protection
Business Protection
and Stakeholder
Insurance
Wealth
Management
Commercial
Mortgages

13. CONTACT:
STEPHEN YAFFE
BUSINESS DEVELOPMENT MANAGER
KEY FINANCIAL CONSULTANTS LIMITED.
Office: 0161 443 0067
Mobile: 07891 583 547
Email: syaffe@keyfinancialconsultants.co.uk
Download this deck at:
slideshare.net/keyfinancialconsultants
Every care has been taken to ensure that the information
provided is correct and in accordance with the law and
HMRC practice, which is subject to change.
Key Financial Consultants are authorised and regulated by
The Financial Conduct Authority. No: 460430