Three Simple but Effective #AutoEnrolment Pricing Plans NEST - Helping make auto enrolment work for you. For the recording of the webinar on demand see https://www.brightpay.co.uk/tutorials/free-auto-enrolment-webinar-for-payroll-bureaus/

1. The webinar will begin shortly...
Three Simple but Effective AE Pricing Plans
NEST - Helping make auto enrolment work for you
By Karen Bennett, BrightPay
By John Hale, NEST Corporation

2. By Karen Bennett
Three Simple but Effective
Auto Enrolment Pricing Plans

3. By John Hale
NEST - Helping make auto
enrolment work for you

4. Q&A Session
Questions Tab or #BPWebinars
On Demand
This session is being recorded
Q&A
REC

5. Three Simple but Effective
Auto Enrolment Pricing Plans

6. Webinar Agenda
Auto Enrolment
Overview
Auto Enrolment as
a Service
Pricing Auto
Enrolment Services
Tiered Pricing
Strategy
Monthly
Retainer Fee
Price List
Approach
Increase Profits
with BrightPay
How BrightPay
can help?
Introduction to
BrightPay Connect

7. Auto Enrolment Overview

8. Entitled Workers
Non Eligible Jobholders
Eligible Jobholders
Auto Enrolment Overview

9. Eligible Jobholders
• Aged between 22 and State Pension age
• Earn more that £10,000 per year
• Work, or ordinarily work, in the UK
Auto Enrolment Overview

10. • Set up a pension scheme with a
qualifying workplace pension provider
• No eligible jobholders? No need to set
up a pension scheme
• If an employee chooses to opt in or
join, a scheme must then be set up
Auto Enrolment Overview

11. • At staging employers must assess all
employees
• If an employee is an eligible jobholder
they must be enrolled into a workplace
pension scheme
Auto Enrolment Overview

12. • ALL employees must receive
communications within six weeks
• Employees must be notified of auto
enrolment and how it affects them
• Postponed employees must also receive
communications within six weeks
Auto Enrolment Overview

13. • Ongoing duties:
 Handling opt-outs and refunds
 Managing opt-in and joining requests
 Making deductions and contributions
 Monitoring employees each pay period
 Sending contributions to the pension provider
Auto Enrolment Overview

14. • Employers must complete a declaration
of compliance
• Must be completed within 5 months of
staging date
• Notifies TPR that you have complied
with AE
Auto Enrolment Overview

15. Auto Enrolment as a Service

16. Auto Enrolment as a Service
Employers with less than
50 employees
of an accountants client
base is made up of:
90%

17. • Are you ready or prepared to take
on auto enrolment business?
• What level of support / information
will you offer?
• Are you prepared for employers
coming to you last minute?
Auto Enrolment as a Service

18. • Offer a complete end to end solution
• Bureaus can generate income and enhance
client relationships
• A new platform to reach and upsell to
• Employers will be happier to consolidate all
their outsourced services to one person or
advisor
Auto Enrolment as a Service

19. Pricing Auto Enrolment Services

20. Pricing Auto Enrolment Services
• Prices vary dramatically across the
market
• Dependent on the no. of employees
and the level of AE services
• Offer a free AE consultation with clients
• Explain the various administrative
aspects of AE

21. Pricing Auto Enrolment Services
• The three main advantages:
1) Understand how much is involved
in AE
2) Much more receptive to your fee
quotation
3) Eliminate your clients seeking AE
advice from you for free

22. Pricing Auto Enrolment Services
Tiered Pricing
Structure
Monthly
Retainer Fee
Price List
Strategy

23. Tiered Pricing Strategy

24. 1. Tiered Pricing Strategy
“A tiered strategy is where a bureau can provide AE services at
different price points for different levels of service”
• For example, shipping costs when purchasing online
• Clearly outlines the value and price differences between different
levels of service
• Allows clients to choose a price point that suits their budget

25. • Employee Assessment
• Enrolling Employees Tier 1
• AE Communications Tier 2
• Processing opt ins/outs Tier 4
• Postponement
• Declaration of Compliance
• Ongoing AE duties
Tier 3
How to charge for AE services?

26. Monthly Retainer Fee

27. 2. Monthly Retainer Fee
“A monthly retainer fee is an agreed amount to be paid on a
monthly basis for completion of an agreed set of tasks”
• Increase a clients monthly charge for processing their clients
payroll and auto enrolment
• Spreads the cost of auto enrolment over a period of time, rather
than a large fee initially
• A simple way to include ongoing AE duties
• Consistent & predictable revenue stream each month

28. 2. Monthly Retainer Fee
“A monthly retainer fee is an agreed amount to be paid on a
monthly basis for completion of an agreed set of tasks”
• Appeals to clients as it guarantees the bureau will carry out
specific AE task each month
• Understand what payroll and auto enrolment will cost, allowing
them to plan accordingly
• Ongoing duties should be automated with minimal time required

29. Price List Approach

30. 3. Price List Strategy
“A price list is a simple way to present a list of services – breaks down
each AE process into bite-sized pieces for your clients.”
• Some bureaus may decide to only handle some auto enrolment
tasks
• Demonstrates exactly what is being offered as a chargeable
service
• Cost itemisation: justifies the price charged for AE

31. Pricing Auto Enrolment Services
• A clear pricing structure will allow any
bureau to cost and schedule AE duties for
each client
• Bureaus can establish clarity while
effectively increasing profits
• Client can decide which of the tasks they
want to outsource / process in-house

32. Increase Profits with BrightPay

33. Minimise Costs
Simplify &
Automate
Pre-Assssment
Tool
Pension
Integration
Importing to
BrightPay
BrightPay
Connect
Minimise Costs
• Avoid any unnecessary costs
• BrightPay Bureau Licence: £229 + VAT
– Unlimited employers
– Unlimited employees
– Free phone & email support
– Full AE, CIS & P11D functionality

34. Minimise Costs
Simplify &
Automate
Pre-
Assessment
Tool
Pension
Integration
Importing to
BrightPay
BrightPay
Connect
Simplify & Automate

35. Minimise Costs
Simplify &
Automate
Pre-
Assessment
Tool
Pension
Integration
Importing to
BrightPay
BrightPay
Connect
Pre-Assessment Tool

36. Minimise Costs
Simplify &
Automate
Pre-
Assessment
Tool
Pension
Integration
Importing to
BrightPay
BrightPay
Connect
Pension Integration
• Direct integration with NEST and
Smart Pension (API)
• Avoid having to manually create
enrolment and contribution files
• Saves bureaus time and reduces
data processing errors

37. Minimise Costs
Simplify &
Automate
Pre-
Assessment
Tool
Pension
Integration
Importing to
BrightPay
BrightPay
Connect
Importing to BrightPay
• Easy import from other payroll software
providers including Sage, Iris & Moneysoft
• Ability to import via FPS or CSV
• Seamless import from HMRC Basic PAYE
Tools at the click of a button

38. Minimise Costs
Simplify &
Automate
Pre-
Assessment
Tool
Pension
Integration
Importing to
BrightPay
BrightPay
Connect

39. BrightPay’s Approach to Auto Enrolment

40. NEST public
NEST works
April 2017

41. © NEST Corporation 2015
Legal information
© NEST Corporation 2015. All rights reserved. This information doesn’t constitute
financial, investment or professional advice and shouldn’t be relied on.
We don’t make any personal recommendation or give advice to employers and their
workers on how to make investment decisions. If you’re considering using NEST you
might want to talk with an appropriately qualified financial adviser.
We don’t give any undertaking or make any representation or warranty that this
document is complete or error free. We don’t accept responsibility for any loss caused
as a result of any error, inaccuracy or incompleteness.
Any form of reproduction of all or any part of these slides is not allowed.
41

42. © NEST Corporation 2015
NEST works…for auto enrolment
Purpose-built Well run Online and easy to use
Established by government Not for profit It’s all we do
42

43. © NEST Corporation 2015
NEST works…….
Free to use Low cost for
members
Same for everyone
Opt outs made easy Others can help run NEST
NEST 2031
Retirement
Date Fund
NEST 2032
Retirement
Date Fund
NEST 2033
Retirement
Date Fund
NEST 2034
Retirement
Date Fund
NEST 2035
Retirement
Date Fund
Award-winning
default fund
43

44. © NEST Corporation 2015
How to make auto-enrolment work
1. Know your Staging Date
2. Choose your pension provider
3. Check your payroll can deal with auto-enrolment
4. Can your payroll produce files compatible with your provider’s requirements
5. Or better……. can your payroll send data to your pension provider via web services?
6. Make sure your pension scheme set up matches the way your payroll works (e.g. if you pay weekly then
you will need a pension scheme that can deal with weekly pay etc)
7. Issue the statutory communications in good time
8. Build processes to send data and make payments that work each pay period
44

45. © NEST Corporation 2015
Employers
NEST works for…
Members
338,000+ 4.6m+
Over £1.6 billion
funds
under management
15,680+
45
NEST Connectors

46. © NEST Corporation 2015
Connect with us at linkedin.com/company/nestpensions
Follow us @nestpensions
Visit nestpensions.org.uk/professionalshelpingemployers
and sign up for our monthly newsletter
Visit nestpensions.org.uk/events for our webinars

47. Questions & Answers
For more information visit www.brightpay.co.uk, email
sales@brightpay.co.uk or phone 0845 3004 304