The feature rich Auto-Enrolment Portal, provided by leading employee benefits software
specialists Staffcare, will allow Central Investment's clients to manage all aspects of their
responsibilities under the Pension Reform Regulations.
Changes to workplace pension regulations introduced on 1st October this year will affect all
employers in the UK. These new employer duties are being introduced in stages, with the
largest employers affected by the first staging date of 1st October 2012. Further staging
dates run until 2018.
Derek Robertson, Managing Director of Central Investment said, "We are leading the field
amongst IFAs by offering access to our own technology solution which is independent of any
pension provider. This is key for employers who don't wish to be tied into the administrative
practices of a single pension provider. Additionally, the providers will not take responsibility
for the employer's compliance with the regulations, so the administrative burden still remains
with the employer."
Central Investment's advanced Auto Enrolment Portal provides the firm's clients with a
single administrative resource, irrespective of the number of schemes and pension providers
involved. It calculates the financial impact of the new regulations, the effective dates and
assesses a scheme's ongoing compliance.
Employees can be automatically categorised as defined within the regulations, with the
appropriate employee communications then being generated quickly and compliantly. The
Portal provides a seamless link between payroll and HR systems, the Pensions Regulator
and all major pension providers, including NEST, with a full audit trail of all actions being
created and reports submitted for regulatory purposes.
Derek Robertson commented; "Despite widespread publicity by the Pensions Regulator,
recent research by The Chartered Institute of Personnel and Development (CIPD) suggests
that some 68% of employers do not know when they have to implement plans to
automatically enrol their staff on pension schemes. IFA firms like Central Investment, with a
dedicated Corporate & Employee Benefits division and a stand-alone Auto-Enrolment Portal,
are able to help employers at every stage of the auto-enrolment journey, leaving them free to
concentrate on running their businesses."
Central Investment will celebrate its 40th anniversary in 2013 and currently has over
£500million of assets under management. The firm underwent a Management Buy Out in
March 2008 and is run by a team of six Board Directors.