Aviva, new sponsor of the Institute of Financial Planning, has unveiled its auto-enrolment solution ahead of the launch next week. Auto-enrolment will begin for the largest firms on 1 October and roll out to smaller firms over following years. The Aviva solution Auto-enrolment Manager for Employers (AME) will allow employers to manage requirements such as contribution levels, certification and payroll monitoring. The use of a hub-based solution means multiple pension schemes and payroll systems can be connected from various pension providers, not just Aviva's.
Financial modelling capabilities allow employers to assess the implications of various options and costs to the business of adopting different types of enrolment. Graham Boffey, Aviva's managing director of corporate benefits, said: "We're at a turning point in how Britain's workers save for their retirement as auto-enrolment brings pension saving to millions of workers for the first time. "As a hub-based solution, AME connects to a diverse range of pension schemes, regardless of the provider, and securely processes data from payroll systems. "Employers can use it whether they have one scheme in place or multiple schemes, and the additional modelling capabilities give them a head start in making the right decisions for their business."
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