Standard Life Launches Auto-Enrolment Toolkit
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Standard Life Launches Auto-Enrolment Toolkit

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Standard Life Launches Auto-Enrolment Toolkit PR Newswire EDINBURGH, June 18, 2012 EDINBURGH, June 18, 2012 /PRNewswire/ -- Standard Life has launched a toolkit aimed at helping employers and advisers plan for the introduction of auto-enrolment and identify the potential cost impact. Ann Flynn, Head of Corporate Marketing, Standard Life said: "From our research and discussions with employers it is clear that many are scratching their heads as to how to tackle the implementation of auto-enrolment. They're not entirely sure of the steps they need to take to meet their responsibilities, how much work is involved and importantly, how it will impact their bottom line. "We have therefore developed a dedicated corporate benefits website which hosts a range of tools, news and videos to support employers and advisers through auto-enrolment and beyond." The toolkit includes; Pension Reform Pathfinder tool: An in depth planning tool which will help employers and advisers build up a personalised plan of duties and help establish a scheme to fit their requirements, and comply with auto-enrolment regulation.

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Standard Life Launches Auto-Enrolment Toolkit
PR Newswire
EDINBURGH, June 18, 2012
EDINBURGH
,
June 18, 2012
/PRNewswire/ --
Standard Life has launched a toolkit aimed at helping employers and advisers
plan for the introduction of auto-enrolment and identify the potential cost
impact.
Ann Flynn, Head of Corporate Marketing, Standard Life said: "From our
research and discussions with employers it is clear that many are scratching
their heads as to how to tackle the implementation of auto-enrolment. They're
not entirely sure of the steps they need to take to meet their responsibilities,
how much work is involved and importantly, how it will impact their bottom line.
"We have therefore developed a dedicated corporate benefits website which
hosts a range of tools, news and videos to support employers and advisers
through auto-enrolment and beyond."
The toolkit includes;
Pension Reform Pathfinder tool: An in depth planning tool which will help
employers and advisers build up a personalised plan of duties and help
establish a scheme to fit their requirements, and comply with auto-enrolment
regulation.
Pension Reform Cost calculator: The pension reform cost calculator will help
employers and advisers understand the potential cost of auto-enrolment by:
- Checking if a current scheme meets the requirements to satisfy the legislation
- Identifying the estimated ongoing costs of meeting legislation requirements
- Showing how the costs can be implemented gradually over time
- Demonstrating how costs could be reduced by providing the option for
employees to pay through salary exchange.
Employer checklist: Gives employers an overview of the key tasks they must
carry out in order to fulfil their new duties.
Data exchange guides: The guides will help employers navigate their way
through their new duties and understand the impact on their current processes
and systems.
Member communications timeline: The timeline gives a clear view of the
mandatory member communications that pension reform legislation requires.
It shows:
- The timeline - what communications need to be issued and when
- The regulations - which communications are mandatory and which are
'recommended'
- The ownership - which communications must be sent by the employer
- The member categories - what type of information needs to be
communicated to each category of employees.
Pension Reform information for employees: A dedicated pension reform
website page, aimed at educating employees, has also been created on
http://www.standardlife.co.uk to inform employees about the changes. The site
covers everything they need to know, from why pension reform is happening to
what to do if they don't want to join their company pension scheme. There is
also a short video which summarises pension reform and auto-enrolment.
Flynn added: "The cost and infrastructure impact will be a major concern for
most businesses so these tools will help form the basis of discussions between
advisers, HR teams and Finance Directors.
"With so many employers' staging dates falling in 2013 and 2014, it is crucial
that providers support employers and their advisers to help make the transition
as painless as possible. Our message to all employers is the sooner you start
your planning the better."
About Standard Life:
Established in 1825, Standard Life is a leading long term savings and
investment company, with around six million customers worldwide. By
understanding and offering innovative products to meet its customers' needs,
Standard Life helps people with their financial education and planning, so they
can feel more confident about the future. Standard Life offers a range of
individual and group pensions, SIPPs, ISAs, annuities, life assurance, offshore
bonds, investment management, wealth management, tax planning and estate
management services.
For further information, please contact:
For Standard Life
Nicki Lundy
Senior Media Relations Manager
Ground Floor
Caledonian Exchange
19a Canning Street
Edinburgh
EH3 8EG
+44(0)131-245-2737
http://www.standardlife.co.uk