With over half a million employees expected to be automatically enrolled onto a workplace pension this coming year, a huge increase on last year’s 46,000 workers, experts are still concerned that many of the smaller companies and micro firms affected are still confused about what auto enrolment is. This has prompted the Department for Work and Pensions to throw more money into their marketing efforts in order to increase their awareness efforts. Their latest campaign is rumoured to have cost £8.45 million and revolves around a giant, furry monster called ‘Workie’.
To help tackle the pensions pandemic, Smart Pension was conceived in 2014. Founded by Andrew Evans, the Chief Executive Officer, and Will Wynne, the Managing Director, together with a team of experienced finance and technology professionals, they hope to help the millions of employees across the UK start saving towards their inevitable retirement.
The Smart Pension platform was rigorously tested over the course of more than a year, ensuring also that all stringent, regulatory requirements were met. The end result is a fast, effective and cost efficient online platform, capable of delivering a seamless end to end user experience. With a platform that is simply more effective with lower running costs, Smart Pension are able to pass their savings onto the customer. It’s completely free for businesses to sign up and they have a plethora of free tools from a library of short, helpful videos and an interactive penalties tool which allows you to estimate your fine based on non compliance at certain points of the auto enrolment process. Their tagline: Fast, Secure, Free.
Smart Pension was recently awarded a 5 Star Rating from Defaqto, the highest score given from the independent, impartial, financial researcher, cementing their status as a key player in the auto enrolment market, and will act as reassurance for employers shopping around for a workplace pension provider. They have also recently acquired sponsorship of GenLife’s master trust, which will no doubt increase their capacity to manage the 1.8 million small businesses and micro firms expected to auto enrol their business by 2018.