Aviva launches guide to auto-enrolment

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Aviva launches guide to auto-enrolment

Aviva has today (2 December) launched a guide to auto-enrolment to help small and medium sized businesses due to set up their workplace pension schemes next year.

The guide, which is called ‘How to choose a pension provider for auto-enrolment’ has been created in conjunction with the British Chambers of Commerce and independent financial researcher Defaqto.

Aviva said the guide contains help specifically tailored for smaller businesses that need to start thinking about their workplace pension scheme.

It includes articles from industry leaders in auto-enrolment and insight from those who have been through the process.

Andy Beswick, managing director of business solutions at Aviva, said: “For people who run or work for a small business, the pension scheme selected for auto-enrolment will play a big part in how successfully that business can deal with the new regulations.

“The priority should be that business owners end up with a scheme that works well with their systems, is easy to run and is positive for employees.

“What they should avoid is signing up to a scheme that won’t meet their needs as their business evolves – or that requires them to spend unnecessary time managing it each month.”

Speaking to FTAdviser, Mr Beswick said that advisers need to be clear about their own propositions and what exactly they are offering.

He said: “Advisers can save time and hassle but also make sure that people get the right propositions.”

On the topic of the recent delay to raising the contributions limit as part of the auto-enrolment process, which was announced in the Autumn Statement, Mr Beswick said: “Anything that delays savers getting money into that [their proposition] is unhelpful.

“We don’t want it to create more confusion to employers. Any change in the goalposts confuses employers.

“In isolation, it is not a good thing, but in the grand scheme of things, it is a six month delay.”

On Friday (4 December) at 12pm FTAdviser will be broadcasting our latest On Air educational webinar, focusing on automatic enrolment.

The live, half-an-hour-long broadcast will include presentations on ensuring the defined contribution scheme you select offers suitable investment options, why it is vital advisers assess the governance of schemes they recommend and cross-selling opportunities.

Ahead of the debate, FTAdviser is also asking advisers to send us any questions which you would like put to our expert panel or raise any topics you want to see covered. Make sure you shape this debate by emailing emma.hughes@ft.com.

We will also be taking live questions during the debate via a dedicated debate feed and through the Twitter hastag #FTAOnAir.

Our expert panel consists of Paul Todd, director of investment development and delivery at Nest, Adrian Boulding, policy strategy director of Tisa, and Tim Sargisson, chief executive of Sandringham.

To watch the broadcast and to find out more information simply visit the FTAdviser On Air page - onair.ftadviser.com.