BEAT THE RUSH TO AE WITH NEW TENET RESERVATION SERVICE

03 November 2014

With 558,300 small to medium enterprises (SMEs) due to be auto-enrolled in 2015 and 2016*, Tenet warns advisers to be aware that employers may find it difficult to obtain the support they need unless they act now.

Via its auto-enrolment specialists, Tenet Employee Benefit Solutions (TEBS), Tenet is enabling firms to beat the rush with a new reservation service, which establishes a pensions scheme and then enables firms to concentrate on day to day business until six months before their staging date, at which point TEBS will be back in touch to put the project into action.

Andrew Botterill, managing director of Tenet Employee Benefit Solutions comments:

“A significant number of large employers have already failed in their staging attempts and the Pensions Regulator is accordingly predicting a spike of non-compliance throughout the next few years, with hefty penalties if SMEs don’t get it right. Our reservation service essentially offers auto-enrolment peace of mind for employers that they have a compliant solution in place and access to expert support throughout the process.

There really has never been a better time for advisers to get involved in the corporate market as auto-enrolment is far from straightforward to implement and the vast majority of employers need support to meet their obligations.”

Tenet Employee Benefit Solutions is designed to support advisers to maximise opportunities via a range of specialist services to provide employers with tailored employee benefits solutions, including expert assistance with auto enrolment. It is a member of the Pensions Quality Mark, the DWP Auto Enrolment Intermediary Group and The Pensions Regulator Auto Enrolment User Group.

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* Source – The Pensions Regulator