The guide is the first in a series of online tools designed to provide up to date pensions advice for HR professionals and employers and is available alongside a jargon buster to help employers get to grips with the terminology used around pensions.
In coming weeks the website will also feature a section on the pensions environment, designed to keep professionals up to date with the latest legal, regulatory and compliance developments in the UK. A design section will provide insight for organisations on how to craft a pensions strategy that supports company objectives and the implementation area will explain how to go about successfully introducing pension change.
Andy Seed, Director KPMG, explains:
“The policy intention behind auto-enrolment is clear and laudable; it’s designed to encourage non savers to save. The principles are clear, but the onus of delivery sits with employers who have over 700 pages of regulation and ‘guidance’ to deal with. Key challenges around successful implementation include HR policy decisions, business process changes, systems changes and employee communications to name but a few.
“So, employers face a twin challenge of meeting both the technical requirements and embedding them operationally. We are therefore delighted to be working in partnership with the CIPD to assist HR professionals through the maze of requirements.”
Charles Cotton, Reward Adviser at the CIPD, comments:
“Automatic pension enrolment is the biggest shake up of workplace pensions for a generation. These resources will provide organisations with guidance on what they need to do, when they need to do it and how they should go about it.
“Our partnership with KPMG helps to ensure that CIPD members have access to the latest resources on pension issues, with KPMG’s expertise and content complementing the CIPD’s existing advice, guidance and research on this issue. The website will provide a one stop shop for HR professionals looking to get to grips with changes to pension regulation.”