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Safe and NOW: Pensions save leading agencies from enrolment headaches

 

Safe and NOW: Pensions save leading agencies from enrolment headaches

September 2013

A dozen of the ‘top 250’ UK recruiters are now ready for pension auto enrolment, having invested in a Safe and NOW: Pensions interface modular software solution.

Pension auto enrolment is government legislation driven by HMRC. Everyone eventually working anywhere, if they meet the criteria, will need to be auto enrolled in a pension by law. Dates by when this takes effect vary, staged on organisational size. If you don’t know your staging date, there’s a list on the HMRC website. Some staging dates have already come into effect, however they continue to 2015 for SMEs and beyond for smaller organisations.

From the first news of pensions auto enrolment, Safe looked proactively to develop its payroll and billing software Safe Tempest to support the requirements. As a market leading software solution, Safe Tempest is used by around half the top 50 UK recruiters, processing millions of payslips and timesheets each year. A subsequent natural partnership was formed between Safe and pensions providers, including NOW: Pensions.

Offering what would appear to be the best combined solution for recruiters on the market to date, Safe offer a two way interface to NOW: Pensions for Safe Tempest. This particular module has been used in 17 customer projects. 12 of these customers featured in the most recent ‘top 250’ recruitment league table prepared annually by a recruitment specialist business magazine. Indeed, three of the agencies that have purchased the Safe interface, featured in the top five positions in the same ‘top 250’ report.

If you use Safe Tempest and would like to know more about adding this module to your solution, contact your account manager. If you’re interested in finding out more about Safe Tempest, visit www.safe-tempestsuite.co.uk, call 0844 583 2134, or email info@safecomputing.co.uk. To find out more about NOW: Pensions, visit www.nowpensions.com.

ENDS

All media enquiries to: Renata Jones renata.jones@safecomputing.co.uk

NOW: Pensions www.nowpensions.com   @NowPensions

 

NOW: Pensions is a multi-employer trust. The investments are managed by NOW: Pensions Investments, a subsidiary of ATP in Denmark, and the administration is carried out by Paymaster, an established UK third party administrator.

 

The NOW: Pension Trustee Directors, whose role is to safeguard the interests of members, comprises well-known industry figures with different areas of expertise:

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  • Nigel Waterson, former Shadow Pensions Minister
  • Imelda Walsh, former Group HR Director of Sainsbury’s
  • John Monks, member of House of Lords and former General Secretary of ETUC and TUC
  • Christopher Daykin, former Government Actuary
  • Win Robbins, former Head of European Fixed Income at Barclays Global Investor

 

NOW: Pensions is committed to developing a better workplace pension provision in the UK by offering a simple, high quality, cost efficient and systematically risk managed pension product that delivers better retirement savings for UK employees. With over 45 years’ experience providing Denmark’s working population with stable and consistent pensions returns, NOW: Pensions is set to transfer the knowledge acquired in Denmark to the UK pension market. Charges are just £1.50 per month administration charge (reduced administration charge of £0.30 - £1.00 to be applied during auto enrolment phasing for lower earners) plus a 0.3% annual product investment management charge, with no hidden charges.

 

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.

 

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