Paradigm Pensions has launched three products to complement its existing auto-enrolment solution Jargonfree Benefits.
Available solely through intermediaries, the new products include ‘Lite’, which requires no monthly fee until a firm’s staging date; ‘Micro’, which is aimed at firms with fewer than 50 employees and particularly those with less than 10; and ‘Easy’, available for firms with more than 50 employees and carrying a maximum fixed fee of £6.50 per person per month.
Steve Bee, chief executive of Jargonfree Benefits, claims disproportionate focus has been put on larger companies and how they will cope with the demands of auto-enrolment despite almost a million of the 1.3m employers in the UK being made up those with fewer than 50 staff.
He said: “Everybody seems to concentrate on what the big employers are doing and ignoring half the work force of the UK. We can bring full compliance for auto-enrolment to a chip shop for 50p a day.”
He added that Jargonfree has built up a network of 100 adviser firms tasked with selling the solutions to employers.
“We aren’t that well known at the moment. Far too many people in the industry start shouting about things they may be about to work on.”
Each of the new products is available via a single newly-launched website.