How to choose a workplace pension

Workplace pension due diligence

The Choices taskforce of the Friends of Auto Enrolment proudly presents……

Henry TapperDirector First ActuarialFounder Pension PlayPen

Who will provide choice? Source ; NEST Insight 2015

Our support is focussed on accountants and payroll agents using commercial software

What the Pensions Regulator saysIf you offer a solution that links to one or more specific pension schemes

(e.g. the payroll software is set up to link best with a specific scheme)…..

you should make your client aware that there may be other pension schemes available that could be more appropriate for their staff.

If you don’t do this, there’s a risk that you could be seen to be restricting an employer’s ability to actively choose their own pension scheme.

Informed choice reduces capacity issuesOld way – CSV file

• Manual intervention• Security issues• Time challenging

New way - API technology - • Touch of a button• Secure• Using common data standards

The industry should aim for 50% of data transfers to be by APIs by the end of 2016

Things can go wrong

The majority of propositions we research are not offered on our platform. None of the above passed our due diligence

Choice in the news

For your information!.

The Choices Taskforce of Friends of Auto-Enrolment have produced two important documents

How to choose a pensionA Choices Factsheet

Thanks to David Stripp/ Liz Cole/Andrew Evans/David Rich/Jon Parker/Richard Hulbert/Jerry McGahan

With help from Neil Esslemont

Henry.tapper@pensionplaypen.com