Partner Article

Online help for bookkeepers tackling pensions auto-enrolment

Members of the International Association of Book-keepers (IAB) can help take the stress out of pensions auto-enrolment for clients through a new online tool.

IAB members can now use æComply, an automatic tool developed by LEBC Group, to manage auto-enrolment for their clients.

“Pensions auto-enrolment is a complex but important subject,” said Malcolm Trotter, Chief Executive of the IAB. “Many of our members have admitted to being concerned and challenged by the procedures involved, and in some cases have gone as far as to advise clients to look elsewhere for help, which no-one likes doing.

“We wanted to find a way to help our members be confident in advising their clients on auto-enrolment and to help them manage the process, and in æComply we believe we have found that.”

During 2014, more than 33,000 employers with 3.5 million employees will have their staging dates for auto-enrolment, with around 25,000 employers in May and July alone.

æComply helps manage employee enrolments, contribution levels, opt outs, certification, payroll monitoring and communications. It will also help prepare for auto-enrolment by assessing the financial implications for businesses. LEBC can, where required, provide enhanced scenario modelling, internal systems assessments and pension audits.

“æComply ensures employers address auto-enrolment in a professional, compliant manner,” said LEBC’s Business Development Director Simon Leyland. “Employers must be aware that even after their staging date, they will still have an on-going responsibility to review their pension scheme on a regular basis.”

Members of the IAB have already started using æComply.

“We have been impressed with the way LEBC has helped with creating a process to use for clients of all sizes,” said Registered Bookkeeper Bobbie Segal of HRJ Accountancy Services in Loughton, Essex.

“LEBC has provided help and advice on auto-enrolment for our largest client, explaining the legislative requirements and options available in a clear, jargon free manner.

“Now we have a robust auto-enrolment proposition in place, we feel this will give us a competitive advantage over payroll providers who have not done so. It also helps prevent us from losing clients to larger payroll providers offering auto-enrolment solutions.”

The IAB and the LEBC will be hosting a joint webinar on æComply and its uses and advantages for bookkeepers on Tuesday, May 13, from 10.30am to 11.30am.

To register, email iabwebinar@lebc-group.com. Joining details will be sent 20 minutes before the start of the webinar.

Note to editors:

The International Association of Book-keepers was founded in 1973 and is the leading UK and international professional body for those providing bookkeeping and related accounting services to small businesses. Through its broad range of Ofqual accredited qualifications and its CPD activities, the IAB aims to meet an extensive range of financial skills needed by young people and adults and to provide essential business skills for those starting up or developing a small business.

In 40 years, 150,000 students have gained IAB qualifications, including 25,000 throughout Europe.

LEBC Group (LEBC) is a National IFA, pensions and employee benefits consultancy providing impartial financial solutions for individuals and organisations alike. Its services are delivered by specialist, qualified financial advisers and knowledgeable, dedicated support staff at 14 branch locations spread throughout the UK - Birmingham, Bristol, Cambridge, Cardiff, Chertsey, Edinburgh, Glasgow, Hull, Leeds, Leicester, London, Manchester, Preston and Reading.

In 2013, LEBC launched ‘æComply’ an automatic online enrolment tool that enables all employers, regardless of size, to manage their short and long-term compliance requirements and subsequently reduce the risk of thousands of employers incurring unnecessary non-compliance fines – see www.aecomply.com.

In February 2014, LEBC upgraded ‘æComply’ to include a ‘retro fit’ solution to help those businesses that have not met or are not meeting their auto-enrolment commitments for whatever reasons. This includes businesses that have been unsuccessful in meeting the strict compliance rules or have not met their staging dates and have subsequently fallen foul of The Pensions Regulator.

LEBC Group Ltd is an appointed representative of TenetConnect Ltd which is authorised and regulated by the Financial Conduct Authority.

This was posted in Bdaily's Members' News section by LEBC Group Ltd .