Auto enrolment provider Smart Pension has released a free employee pension education video generator, that will also be available in Polish.
The advanced technology platform made the decision to allow its employee pensions communication video to be available to not only its customers, but also to independent financial advisers and other professionals plus the wider web, in order to simplify auto enrolment universally.
The bespoke two-minute education video can be generated with English or Polish language voice over and allows companies or advisers to add their own logo and contact details, which can be dynamically inserted into their video.
Smart Pension MD and co-founder Will Wynne said: "New pension reforms have made it mandatory for employers of even the smallest firms to not only offer a workplace pension but also to support and educate their staff through the process as well. The penalty for not offering guidance and education is £400.
For the companies we work with, that's two enormous burdens added to an already long to-do list. For many, it will be the first pension scheme they've ever had to deal with, even on a personal level, and likewise for some financial advisers, it might be the first time they've had to provide this kind of one-size-fits-all in-house education on behalf of clients.
We felt it was important to use our expertise to get the facts into place and make them super easy to understand and accessible for the whole industry, for free.”
The tailored video can be created on a mobile phone and sent to staff electronically on the go, as well as being used in the traditional way as a helpful prop in a stand-up presentation watched by all.
Wynne added: "There are more than a million Polish nationals working in the UK and we felt it was necessary to offer employers enhanced help to explain why it's in their interests to stay opted into their UK pension – employees can keep the pension pot even if they return to their country of origin and initially for every pound they save into their pension, £1.50 is added on top by a combination of their employer and the government – that's generous!"
It is one of the few platforms that is free to use for employers and guarantees to accept every employer and employee – an increasingly critical feature for thousands of small British firms looking to enrol in the Government's Workplace Pension initiative over the coming years.
Notes to editors
ABOUT SMART PENSION:
Smart Pension is an award-winning, MAF-accredited online auto enrolment provider. It was co-founded in 2014 by Andrew Evans, CEO, and Will Wynne, MD, and launched in May 2015. Its Master Trust is overseen by independent professional trustees with decades of experience supervising large pension schemes. Smart Pension is the fastest auto enrolment platform on the market to sign up with and advisers and employers can use it for free - there are no upfront or ongoing charges for companies or their advisers. 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 UK 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