Willis Develops Auto-Enrolment Platform to Guide Companies Through Workplace Pension Reforms
London, UK, October 03, 2011 – The UK Employee Benefits Practice of Willis Group Holdings plc (NYSE: WSH), the global insurance broker, today announced the launch of its Auto-Enrolment platform, an online service providing employers with the tools they need to manage Workplace pension reforms due to come into effect in the UK from 2012.
The 2012 Workplace pension reforms include a legal duty to automatically enrol all eligible jobholders into a qualifying pension scheme, and the introduction of a new compliance regime enforced by the Pension Regulator. There is a four-year timetable governing when each employer needs to comply with the new rules, starting first with the largest employers who must comply by October 2012.
Willis’ Auto-Enrolment platform is a solution tool which enables companies to manage these changes, and comply with the new rules and requirements.
Willis’ Auto-Enrolment services include:
- A consultancy service to enable companies to understand how the new requirements relate to their circumstances and what the impact on their business will be.
- Advice on whether current pension arrangements meet the criteria for a qualifying pension under the new rules, and an illustration of any additional costs that will apply.
- A market review of qualifying pension schemes to find the scheme which best suits a company’s requirements.
- A technology platform to manage the new duties and requirements of employers under pension reform, and to provide companies with management reporting and analysis across multiple pension schemes.
- Services to help communicate the changes and the options available to employees including the design, production and delivery of a multichannel communications strategy.
Tony Powis, Managing Director of Willis Employee Benefits Limited, said “Pension reform presents our clients with significant financial, operational, reputational and compliance risks and challenges. Willis Employee Benefits provides end to end solutions from an initial impact assessment report, to an on-going service to implement and manage the changes necessary. This new platform has been developed to automate the auto-enrolment process and new employer duties to ensure clients meet new requirements with the minimum disruption to their business activities.”
Willis Group Holdings plc is a leading global insurance broker. Through its subsidiaries, Willis develops and delivers
professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public
entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries,
with a global team of approximately 17,000 employees serving clients in virtually every part of the
world. Additional information on Willis may be found at www.willis.com.
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