Advice firm Clifton Wealth has joined forces with Jargon Free Benefits to help small and medium sized enterprises meet the challenges of auto-enrolment.
Jargon Free Benefits, a cloud-based employee benefit system, has provided Clifton Wealth with an own-brand version of its system, to be called Clifton Assist.
The technology allows SMEs to manage the auto-enrolment process at a cost of about £2.50 per employee per month. Clifton Wealth said the system reduces administration time by 70 per cent.
The partnership, announced today (1st October), marks the first anniversary of the launch of auto-enrolment.
Anthony Carty, Clifton’s group financial planning director, said: “We are delighted to be working with Steve Bee - a tour de force in the pensions industry and we are confident that Clifton Wealth and JFB offer a powerful combination to provide upfront advice and on-going support for SMEs, particularly those without the benefit of an HR department.
“JFB’s system, combined with our pensions experience, means business owners can access a trusted partnership to deal with the complexity of auto-enrolment at a cost that is only the equivalent of buying their employees a cup of coffee every month.”
Steve Bee, founder and chief executive of Jargon Free Benefits, said: “In Clifton Wealth we have another high-quality adviser firm joining us at Jargon Free Benefits as we seek to help SME and micro businesses in the UK successfully implement automatic-enrolment.
“2014 will be a crucial year for these important new pension reforms and I am absolutely convinced adviser firms will be key to their success.”