08 March 2017
Workplace pension provider Smart Pension has launched a customised poster generator tool that will help small businesses create clear communication for their staff, a mandatory requirement of their auto enrolment responsibilities.
The new online tool allows small businesses to add their own logo, company information and an education message about auto enrolment, and then upload a background image of their choice – for example, a photograph of their team - or choose from a number of standard background images.
It then renders a poster that employers can use to update staff clearly about the status of auto enrolment plans, whilst putting their own stamp on the message.
The poster generator is also available for users of Smart Pension's adviser platform and can help accountants, IFAs and payroll bureaus ensure their clients comply with their on-going legal responsibilities. Advisers can add their own firm's logo to the poster too, as well as their own team's contact details, so they can handle queries from their clients' employees.
The poster generator is offered in addition to the firm's existing branded employee education video generator, which is also free to use. No similar tool is offered, paid or otherwise, by any other workplace pension provider, underscoring Smart Pension's technological expertise in the auto enrolment space.
Smart Pension MD and co-founder Will Wynne said: "Part of an employer's initial and on-going auto enrolment responsibilities is to support and educate their staff about the whole process…or else."
"This involves writing letters, organising meetings and answering the many questions their staff may have."
"For most of the companies we work with, that's yet another enormous burden added to an already long to-do list."
"We've used our expertise to create a simple set of tools that can help make this element of the legal burden easy to handle and with a technological wow factor."
An estimated 801,000 small businesses are set to reach their staging date in 2017, more than doubling the number in the previous 12 months.
A recent survey, conducted by YouGov on behalf of Smart Pension, found more than half of small and micro businesses felt auto enrolment would be a burden and two-fifths said it was unfair. But the data also found that 72 percent of them said it wouldn't get in the way of growth plans.
According to the Pensions Regulator's most recent report, 3,728 compliance notices were issued to small businesses between April and September 2016. Around 26,000 were issued initial compliance notices after failings were identified.
Smart Pension remains free to use for employers and guarantees to accept every employer and employee, a critical feature for the hundreds of thousands of smaller British firms that will need to offer a workplace pension to their employees over the next 18 months and ongoing.
Notes to editors
ABOUT SMART PENSION:
Smart Pension is a global savings technology platform provider. It is also one of the UK's largest providers of workplace pensions. Its award-winning master trust is MAF-accredited and overseen by independent professional trustees. It was co-founded in 2014 by Andrew Evans, CEO, and Will Wynne, MD, and launched in May 2015. Europe's second largest asset manager Legal & General Investment Management (LGIM) took a minority stake in the digital pension platform in 2016, part of a move by LGIM to invest in high-achieving, innovative technology that has a positive impact on the wider economy. In June 2017 it was named Fintech Innovation of the Year and overall winner in the Digital Leaders 100 awards, in June 2018 it was named as Master Trust of the Year at the European Pension Awards. www.AutoEnrolment.co.uk