AE+ Corporate Brochure

AE+Navigating Auto-Enrolment

GEN-0056 AE Plus Services Brochure - Page 1

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Navigating Auto-Enrolment | 01

Our experience at Chase de Vere

is that many businesses do not

understand the full extent of their

responsibilities for auto-enrolment

and have yet to undertake any

serious planning.

Given the immediate day-to-day

pressures of running a business, this

is perhaps understandable. However,

auto-enrolment is happening and the

time has come for smaller to medium

sized employers to start planning.

Auto-enrolment is a catalyst for

positive change if you rise to the

challenge of the requirements in

good time.

As an independent employee benefi ts

consultancy working principally with

smaller, medium and small-large

sized businesses, we are in an ideal

position to provide the expert and

independent advice you need to make

informed, eff ective decisions that

will benefi t both your business and

your employees.

Our AE+ service is designed to

provide the specialist service, expert

support and independent advice your

business needs to meet all its auto-

enrolment responsibilities, saving

you time and money, and helping you

gain a competitive edge with a wider

benefi ts solution.

How we will helpAs one of the UK’s longest-established

Independent Financial Advisers and

Employee Benefi t Consultants, we are

exceptionally well placed to advise

businesses now facing the auto-

enrolment challenge.

With our focus on smaller, medium

and small-large sized businesses,

we have the expertise, experience

and capability that companies need.

We off er well-considered, cost-eff ective

solutions which are tailored to your

needs and changing circumstances.

Reliable advice, help and supportMost companies simply do not

have the resources to manage the

complexities of auto-enrolment

internally. We will work with

you to provide the expertise and

experience you need.

Independent fi nancial advice for business

Auto-enrolment is

unquestionably the biggest

change to workplace

pensions in a generation.

But as an employer, what

should you be doing?

What are the issues to

consider? And when do

you need to act?



02 | Navigating Auto-Enrolment

We have been a trusted source of

independent fi nancial advice for

more than 40 years, working with

over 1,000 companies. This makes

us one of the UK’s longest established

corporate practitioners.

We are, fi rst and foremost,

independent, which is why

prestigious companies choose to

work with us. Instead of being

restricted and obliged to off er

solutions from selected providers,

we are free to search the whole

market to bring you the very best

strategies for your business. We

only ever have your best interests

at heart and our sole responsibility

is to provide you with the very

highest standards of independent

fi nancial advice.

What is more, all our fi nancial

advisers are highly qualifi ed – many

beyond the standards required by

our regulator, the Financial Conduct

Authority. Our people are among

the best in the industry. It is no

wonder the industry and media

have recognised our expertise and

high levels of service with numerous

awards and accolades.

Nationwide presence, local expertiseOur independent advisers operate

from offi ces throughout the UK.

So wherever you and your employees

are based, we are close at hand.

This allows us to have the knowledge

and presence to provide independent

advice at a local level.

Trusted for our independent thinking

GEN-0056 AE Plus Services Brochure - Page4



There is nothing automatic about auto-enrolment

What is the thinking behind this initiative?Millions of people are not saving

enough to generate the income they

will need when they retire. At the

same time, people in the UK are

living longer. It means our society

is getting older – and poorer.

Auto-enrolment will radically change

the way we save for old age, and help

millions of people put something

meaningful aside for the future.

Up to 11 million employees will

be automatically enrolled into a

workplace pension – making this

the single biggest pensions revolution

since the introduction of the state

pension over a century ago.

How will auto-enrolment aff ect your company?As an employer, you have an

important part to play in this

momentous change. The deadlines

(or staging dates) for auto-enrolment

take place over six years and depend

on the size of the company. Larger

organisations began enrolling eligible

workers in October 2012. Firms with

50 to 499 workers will follow from

January 2014 through to April 2015.

The date for fi rms with 49 workers

or less is from June 2015.

What is auto-enrolment?Following Government changes

to workplace pensions law, all UK

employers must help their workers

save for retirement.

Under the new rules, employers must

provide a company pension that

meets certain standards.

Then they enrol eligible employees

into it, who:

• Are not already in a qualifying

workplace pension scheme

• Are at least 22 years old

• Are below state pension age

• Earn more than £9,440 a year

• Work or ordinarily work in

the UK.

Even if workers are not eligible to

automatically enrol, they still have

the right to join a scheme – so it

is important to know that if an

employee asks to opt into the scheme,

you must allow them to join.

We will help you

plot your course.




It is important to plan well in

advance of these dates – even if your

company already has a pension

scheme in place.

The detail of the legislation is highly

complex and very few employers

accurately factor in the operational

impact on payroll, the additional

costs involved in changing processes

or increasing administration or

the investment in technology.

Auto-enrolment involves much

more than just enrolling employees

into a pension scheme.

This is why The Pensions Regulator

advises that employers need to

allow 18 months to prepare for their

staging date – to research, plan

and implement an auto-enrolment

solution that will meet business

requirements.

There are numerous issues to

consider in preparing for auto-

enrolment and choosing a solution

that is right for your business and

your employees. Some of the things

employers will need to think about:

• Assessing the workforce to

determine the applicability of

auto-enrolment

• Reviewing current pension

arrangements to confi rm

compatibility with new rules

• Administering the whole

auto-enrolment process, from

automatically enrolling ‘eligible’

employees, to managing staff opt-

ins, requests to join and to leave

the scheme, opt-outs (and future

re-enrolment of opted-out staff )

and refunds

Benefi t from expert navigation

Recent research regarding auto-enrolment, from the Association of

Consulting Actuaries (ACA), revealed that only 20% of SMEs surveyed

were aware of their auto-enrolment compliance responsibilities – and of

those who were, 53% said they were ‘complex’ and 23% said ‘very complex’.




The clock is ticking. So unless you

take action now, you may unwittingly

drift towards non-compliance,

or leave yourself vulnerable to

rash choices that may damage the

business in the longer term.

The cost of taking early advice to

make sure you get auto-enrolment

right, is as valuable an investment

for your company as ‘saving for

tomorrow’ is for your employees.

Compliance with the auto-enrolment

rules sits squarely with employers,

and there is no doubt that The

Pensions Regulator will ensure that

workers are able to access suitable

pension arrangements.

With non-compliant businesses

facing penalties of up to £10,000 a

day, it is perhaps not surprising that

87% of SMEs questioned said they

would seek fi nancial advice.

• Communicating the changes

eff ectively to workers

• Considering the ‘postponement’

option, to ensure you are ready

for your duties

• Controlling costs, particularly

those relating to compulsory

employer contributions

• Exploring cost effi ciencies, such

as a salary exchange scheme

• Evaluating the role of other

staff benefi ts

• Ensuring the ongoing compliance

of new arrangements.




Currently, three quarters of smaller

fi rms have no pension scheme in

place for their employees*. With

auto-enrolment, all employers are

required to join ‘eligible employees’

into a pension scheme that meets

specifi c criteria.

Can employees opt out?All eligible employees will auto-enrol,

but will then have the right to

opt out. Three years after employees

opt out, it is your responsibility as

an employer to auto-enrol them once

again. They will still have the right

to opt out.

What about contributions and what do they mean to employers?As well as diff erent dates for the auto-

enrolment process, the Government

has set a minimum percentage for

total contributions. This consists

of the employee’s contribution,

the employer’s contribution and

the tax relief.

This minimum amount increases

gradually between 2012 and

October 2018:

2% (phased in between October 2012

and September 2017)


and September 2018)

8% (from October 2018 onwards).

Employees can contribute more than

the minimum if they wish.

What this means for employersWithin this total contribution, the

Government has set a minimum

percentage that the employer must

contribute, which also increases

over time:


and September 2017)


and September 2018)

3% (from October 2018 onwards).

Employers can also contribute more

than the minimum if they wish.

How auto-enrolment will change the landscape for workplace pensions

How much will it cost?The real cost of auto-enrolment

goes beyond contributions.

The fi nancial impact on your

business could be considerable.

There are four additional

sources of costs you will need

to allow for and these are:

• The work involved in

choosing and setting up a

qualifying scheme. If you

have an existing scheme,

you still need to make sure

it meets the requirements

for auto-enrolment

• You will need to change your

systems and processes to

support auto-enrolment

• You must register with

The Pensions Regulator

and certify compliance

• Ongoing costs of managing

auto-enrolment.

Careful planning and early

advice are essential in the

run-up to your auto-enrolment

staging date. Get auto-

enrolment right and you

will motivate your workforce

and stand out from your

competitors. Get it wrong, and

you will waste a lot of time

and money – and face fi nes

of up to £10,000 a day from

The Pensions Regulator.*Source: Association of Consulting Actuaries (ACA), 15 October 2012.




At a glanceBy October 2018 minimum contributions must be

8% of an eligible employee’s qualifying earnings –

with a minimum of 3% from the employer plus 4%

from the employee (and 1% from tax relief).




If employers do not comply, there are

three escalating steps The Pensions

Regulator will take:

• Issue a warning notice

• Issue another warning and apply

a fi xed fi ne of £400

• Apply a daily fi ne.

The daily penalty will increase

until the company complies. The

amount depends on the number

of employees.

What about existing schemes?If you have an existing pension

scheme, it needs to be reviewed

carefully to make sure it meets the

specifi c criteria for auto-enrolment.

A timely opportunityAs well as helping your employees save

for their retirement, auto-enrolment

provides an ideal time to review the

wider rewards package you off er

your employees.

What happens if you do not comply?

Number of employees

Daily fi ne

500+ £10,000

250-499 £5,000

50-249 £2,500

5-49 £500

1-4 £50




Don’t just keep up with auto-enrolment, stay in front of the competition

You could choose to just pay higher

pension contributions than the

minimum. The risk here is that

this may be less cost-eff ective than

other employee benefi ts, which will

also provide you with the scope to

meet the needs of a wider range

of employees.

To realise the best return on your

investment for your auto-enrolment

spend, you should explore ways to

maximise engagement with your

employees and stay competitive.

A workplace pension is a key

employee benefi t when it comes to

engaging and motivating employees

and making you a competitive

employer. But to seriously compete

in their labour market, we believe

businesses must go beyond a

workplace pension and take this

singular opportunity to implement

a wider employee benefi ts solution.

The key pointsAuto-enrolment is mandatory

for all employers. So, (despite the

considerable fi nancial impact on your

business) by just complying with the

statutory minimum requirements,

you risk doing exactly the same,

and potentially much less, than

your competitors.

Research in March 2012 among readers of Employee Benefi ts magazine

and users of www.employeebenefi ts.co.uk, backs this up. The need to keep

employees engaged is refl ected in the top two reasons why employers say

they off er benefi ts: because they are an eff ective retention tool (80%) and

an eff ective recruitment tool (79%). Also, 60% are closely linked to their

overall business strategy.



AE+ The expert help, specialist service and independent advice your business needs in a time of change.




Navigating auto-enrolment | 11

• AE+ is a unique, competitively

priced service, designed specifi cally

for businesses like yours, to help

you meet all your auto-enrolment

responsibilities, and help you gain

a competitive edge with a wider

benefi ts solution

• AE+ will make decision-making

easier and more effi cient

• AE+ will save you time and money

• AE+ will give you the choices and

options you need to compete.

How does AE+ work?Through our AE+ service we will:

• Guide you through your legal

obligations and their eff ect on

your business

• Explain the various contribution

structures and pension options

available to you

• Demonstrate what your

competitors are off ering their

employees, and what your business

must do to gain or maintain a

competitive advantage

• Recommend and implement a

suitable, fully compliant workplace

pension, to allow you to gain the

maximum return for your auto-

enrolment spend.

What else will AE+ do for your business?AE+ will give you a clear

understanding of the positive

benefi ts of off ering a wider employee

rewards package. These include

fl exible, aff ordable group risk

products such as group life cover

and income protection.

In addition to a great company

pension scheme, these benefi ts are

highly valuable to your employees.

A competitive rewards package will:• Help motivate employees and

provide choice on how they select

their benefi ts to meet their current

fi nancial aspirations

• Encourage loyalty towards the

company and provide real value

• Attract, and retain, high-calibre

people to your fi rm

• Make you a competitive employer.

Why choose AE+?As a specialist independent adviser

for smaller, medium and small-large

sized businesses, we off er expert,

relevant and cost-eff ective solutions

that are tailored to your specifi c

needs. Talk to us to fi nd out how

your business will benefi t from our

unique approach and outstanding

independent advice.

What is AE+?




AE+ is a fl exible three-stage service

with a choice of options you can

tailor to suit your business. You can

choose as many stages as you need

or want, and select the options that

suit your budget and your in-house

capabilities.

You can rely on the expertise and

independent advice of your dedicated

adviser at Chase de Vere. They will

be there at each stage to ensure your

business gets the most benefi t from

auto-enrolment.

FREE Impact Analysis Report

What we off erYou will receive a free Impact

Analysis Report, fully personalised

to your business, which clearly

defi nes what you need to do as

an employer, and by when.

How your business will benefi tYour free, personalised 8-page report

will provide invaluable information,

including:

• Your obligations as an employer

and what action you need to take

• The numerous timeframes

involved

• What may happen if you don’t

get it right.

AE+, tailored to your business in three clear stages

We’ve competitively priced

each stage of our AE+

service. Each stage of AE+

is supported by a price

guarantee which is tailored

to your company’s needs

and budgets.




Stage 1: Impact Analysis

• Clearly explain your auto-

enrolment contribution choices

• Identify cost-saving opportunities

• Indicate the costs of wider benefi ts

for you to consider.

How your business will benefi tYou will receive confi rmation that

any existing arrangements are fi t for

purpose – or understand what you

must do to meet the contribution

criteria. You will:

• Receive a breakdown of the costs

of auto-enrolment to assist you

in making informed choices and

plan eff ectively

• Have the opportunity to control

your cost base while maintaining

a commercial edge

• Be able to meet your legal duties

while managing your business cost

and administration structure.

Following the free Impact Analysis

Report, you will understand what

you need to do and when you need

to do it.

What we off erThe Impact Analysis will confi rm

exactly what your business needs to

do, illustrating the various options

available and the likely costs involved.

The Impact Analysis includes a

compliant, thorough evaluation of

your workforce (at individual level),

to identify which staff are eligible for

auto-enrolment and which are not.

This enables you to build a solution

on a fi rm foundation, and to develop

the optimal auto-enrolment plan for

your business.

What the Impact Analysis includesWe will:

• Explain how auto-enrolment will

impact on each of your employees

• Review any existing arrangements

to help you meet your auto-

enrolment requirements

• Help you understand your initial

and future costs




Having completed Stage 1 – the

analysis of auto-enrolment and

its impact on your business – you

will understand:

• How to meet the legal requirements

in assessing your workforce

• How auto-enrolment will impact

on any existing arrangements

• All the cost implications.

What we off erStage 1, Analysis – provides your

business with information to achieve

basic compliance to ensure you meet

your employer duties.

This is important to your business,

so you will have the opportunity not

only to comply but also to choose

your appropriate providers and

control your auto-enrolment costs,

administration and their impact on

your business.

Stage 2, Design – focuses on creating

the optimum auto-enrolment

solution for your business.

What the design phase includes• A recommendation of the

providers and the best type of

workplace pension for your

company and your employees

• Advice on the most appropriate

default pension fund

• A recommendation of an optimal

contribution strategy

• Guidance through the

complexities of day-to-day

auto-enrolment compliance

• Detailed costings of any

wider benefi ts you are actively

considering implementing

• A clear project plan to provide

information and full support for

your employees throughout the

auto-enrolment process.

How your business will benefi t• The opportunity to achieve

maximum return on auto-

enrolment spend and employee

engagement

• The advantage of Chase de Vere’s

independent, whole-of-market

expertise which matches the needs

of both the business and employees

to select product providers

• Expert service to meet your

legal obligations and maximise

returns on your business and your

employees’ contributions

• Clear lines of responsibility – who

is doing what and when – to meet

your implementation date

• Achieve compliance and cost

reduction.

Stage 2: Design




The competitive advantage in our AE+ serviceLooking beyond the immediate challenge of

providing a compliant pension scheme that meets

all the requirements of auto-enrolment, AE+

provides an important added advantage.

At no extra cost, our AE+ service off ers the option

to include a corporate benefi ts benchmarking

report, which allows you to see exactly what other

fi rms in your sector off er their employees. In

addition, you will understand how your business

could further enhance its competitive edge

following auto-enrolment. We include details

of special arrangements for:

• Salary exchange – control costs

• Group life insurance

• Group income protection insurance

• Group private medical insurance

• Childcare voucher scheme

• Online employee discounts.




Once you have agreed your design,

you will gain a clear understanding

of why the solution is right for your

business – and the wider benefi ts

for your business, looking beyond

auto-enrolment.

Stage 3, Delivery – focuses on

implementing the solution.

What the delivery phase includes:• Implementation of the selected

workplace pension scheme and

other chosen benefi ts to an agreed

project plan

• Detailed full project plan with

dedicated Chase de Vere support

throughout the process

• Chase de Vere will undertake

required submissions to The

Pensions Regulator on your behalf

• Create and deliver a clear

communications plan to provide

information and full support for

your employees throughout the

auto-enrolment process

• Training of employees who

will carry out the ongoing

administrative functions of

auto-enrolment

• How to maximise return on

auto-enrolment spend through

employee engagement.

How your business will benefi t• Compliance with your new duties

and legal responsibilities, as well as

meeting the goals of your business

• Concise project planning – to

create a clear path to facilitate

minimum disruption to your

business during the build-up to


• Clear lines of responsibility – who

is doing what and when – to meet


• Employee communications will

be clear and concise and specifi c

to your employee groups, helping

you to achieve maximum return

on investment for auto-enrolment

spend for your business

• Delivery and communication of

any associated employee benefi ts

that you implement alongside

auto-enrolment

• We will help ensure your employees

eff ectively use the available auto-

enrolment technology to best eff ect.

Stage 3: Delivery




The future…There is increasing pressure on

employers from both the Government

and The Pensions Regulator,

to ensure that workplace pension

schemes are actively monitored

and reviewed so that they remain

fi t for purpose.

What we off erWe will continue to monitor your

chosen benefi ts to make sure that

they continue to be appropriate and

compliant. We will provide you with

an annual report to confi rm the

ongoing suitability of the options

you’ve chosen and check that the

default funds remain appropriate.

How your business will benefi t in the longer termIt will be very reassuring to know

that with AE+, everything you’ve

put in place for your business and

employees will continue to be:

• Robust – meeting the current and

ongoing needs of your business

• Appropriate, motivating and

engaging for your workforce

• Competitively priced – quality

solutions and advice plus

exceptional value for money

• Fully compliant to meet all your

legal requirements

• An important incentive – valued by

existing employees and potential

new employees.

The ongoing benefi ts of AE+ can also

include the provision of a range of

useful fi nancial advice services for your

employees, at your workplace such as

pre-retirement workshops, counselling,

and executive counselling.

The + with our AE serviceIt is what provides the unique

advantage.

Auto-enrolment is not just about

pensions, it is about how you

remunerate employees and how

you manage your administration.

The + is:

• Big business benefi ts – maximise

your spend, maximise employee

engagement

• Guidance with IT to manage

your auto-enrolment obligations

– for seamless, streamlined

implementation

• Expert support throughout

design – for confi dent, informed

decision-making

• Look beyond compliance –

for a more competitive edge.



Many companies choose to work

with us not only because we are

expert pensions and employee

benefi ts specialists, but because

we are committed to providing

independent advice.

We believe that true independence is a

virtue: a virtue that allows freedom of

thought and real objectivity. However,

in the world of fi nancial advice, true

independence is in decline.

Many fi nancial advisers are

restricted, as they can off er only

limited advice and solutions from

selected providers. But we are not.

Our only obligation is to our clients.

Our experienced team of independent

employee benefi ts advisers will

evaluate the whole market, and only

then recommend a benefi ts strategy

that is right for your business.

As one of the UK’s longest established

and experienced independent

corporate fi nancial advisers, we off er

a powerful range of skills, know-how,

resources and negotiating power to

help your business develop a cost-

eff ective employee benefi ts solution.

What is more, all our fi nancial

advisers are highly qualifi ed – many

beyond the standards required by

our regulator, the Financial Conduct

Authority and many surpass this.

We are committed to investing in

training, technology and research,

and will continue to provide a

market-leading advice service.

Why choose Chase de Vere?




How we will work with youWe are a national fi rm with over

200 professional fi nancial advisers

located throughout the UK. We off er

you an attentive, focused service

from an experienced local adviser

and an experienced support team

in the background.

We value client relationships very

highly, so you will benefi t from

having a dedicated adviser, making

possible a consistent and highly

personalised service.

• Your dedicated adviser will

pro-actively arrange meetings,

and provide reports to keep

you informed

• By forming and maintaining

strong client relationships, we

develop a high level of trust with

our clients, delivering advice

which is exactly tailored to their

needs and a service which is highly

responsive to their changing

circumstances

• Your business will benefi t directly

from the fact that we are pensions

and employee benefi ts specialists.

We will help you access the best

products and services and get the

best results for both your business

and your employees.


We provide a consistent, award-winning service• Unbiased.co.uk Investment IFA

of the Year winner 2013

• Good Advice Awards Best

Investment Adviser fi nalist 2012

• Highly Commended and runner-

up in the Group Pensions IFA of

the Year category at the Financial

Adviser Awards 2012

• Private Client Practitioner Top

25 IFA Companies 2012

• Financial Adviser Awards Group

Pensions IFA of the Year runners-

up 2012

• Professional Adviser Investment

Adviser of the Year winner 2011.



What our business clients say about us...


“ Thank you for your assistance within the development

and implementation of our benefi ts project. I have been

very impressed by everyone’s support, and communication,

throughout the implementation and I have enjoyed

working with Chase de Vere on this project.”

HR Director

“ We have been working with Chase de Vere for several

years and really benefi t from having a local adviser who

provides quality advice which is appropriate to our

business and employee size.”

Managing Director

Get in touchTo fi nd out how Chase de

Vere can help you with auto-

enrolment and add value to

your existing employee benefi ts

programme, or to talk to one

of our professional advisers:

Please call us on

0845 140 4014

or send an email to

[email protected]

or visit

www.chasedevere.co.uk




GEN-0056 AE Plus Services Brochure.indd a 21/04/2013 20:18

www.chasedevere.co.uk0845 140 4014

The Financial Conduct Authority does not regulate tax advice.

Chase de Vere Independent Financial Advisers Limited

(registered in England Number 2090838) is authorised

and regulated by the Financial Conduct Authority.

A member of the Swiss Life Group. Registered offi ce:

60 New Broad Street, London, EC2M 1JJ.


GEN-0056 / 05-13

GEN-0056 AE Plus Services Brochure.indd b 21/04/2013 20:18

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