17th November 2015
Our 5 stage approach to auto-enrolment
STAGE 1 – GUIDANCE GETTING STARTED
Whether you have an existing scheme or not, Sovereign® will work closely with you in formulating guidelines so you can fully understand the changes in responsibilities.
We will work with you to suggest a plan that works with your timetable. The likely cost and budget required will also be detailed as well as how the communication process may work. This may include working alongside Accounts and HR Departments plus Senior Managers and location heads depending on the structure of the business.
STAGE 2 – OPTIONS
Deciding what’s right for you
Once your requirements are fully understood we will prepare a written recommendation detailing an agreement to compare any existing schemes and improvements and provide you with a timetable to follow.
We will also need to understand the future plans of the board for the development and vision of the business. The report will give in depth options to complete your employer duties and also comment about the business’ admin capability, IT systems (intranet), core values in the business and the HR culture. This report will be the driving force of the project.
STAGE 3 – RECOMMENDATIONS
Planning what happens next
This stage will take a look beyond the current situation and comprehend the corporate plans and expected future workforce. Different locations will be consulted to provide flexibility, keeping disruption to a minimum plus we will design specific solutions around your business.
By the end of this stage we will have decided on the way forward with a detailed recommendation that will be personal to the business structure. With technology driving everything we do we aim to deliver a convenient online Auto Enrolment (AE) process, however a paper based version will also be available if required.
STAGE 4 – IMPLEMENTATION
We will work with you to agree how to proceed in accordance with the final choices made as well as verifying scope and budget. Our adviser and admin team will be readily on hand to provide support in any area you feel you need help to give the package the desired effect and productivity.
STAGE 5 – MONITORING
Reviewing our services to you
With all of our corporate scheme installations we carry out an ongoing review normally after 6 months.
We will report to the board annually, providing any feedback and informing of the progress of the schemes impact. We will also give them explicit information, for example, costs, leavers, joiners, performance of funds, pension issues that need to be on the radar and any other information important to the business.
The Financial Conduct Authority does not regulate some auto-enrolment services.
We trust that the services we provide will be informative, supportive, hasslefree and beneficial and hope that positive working relationships can be built and maintained throughout the process.
What our clients say
Malcolm is an excellent Senior Financial Executive. Malcolm knows pretty much all there is to know about investment management and the market. I have known and worked with Malcolm for many years and h...
Malcolm Lay and his team at Sovereign® Employee Benefits have administered the Company Pension Scheme and benefits package for 15 years and it has been run smoothly and professionally for t...
Dann & Co
I recently engaged Sovereign to assist me with the set up and implementation of our new Workplace Pension Scheme as require...
Langstone Engineering - Toolmakers and Precision Engineering
We are a commercial cleaning company who had reached our staging date and begun the Auto enrolment process. This was a new and very alien situation for us and after admitting defeat searched for assis...
Moores Cleaning Services Limited
I have used the services of Sovereign® Employee Benefits for the past four years and would highly recommend them to oversee company benefits. Quality and effectiveness of communication have...
We are a sailing club based on the Isle of Wight and found our obligations for the implementation of a suitable Pension Auto enrolment scheme to be a somewhat daunting prospect. Having engaged the ser...
Sea View Yacht Club
We signed up with Sovereign to support us with Auto Enrolment and what seemed like a daunting task was made easy by Jackie and her team.
SeaSafe Systems Ltd
I have worked with Sovereign for a long time and they have always given good pension advice and as my confidence has grown over the years I have now made substantial financial investments outside of m...
I have worked with the team at Sovereign® Employee Benefits since 2006 when they were appointed to administer our existing Defined Contribution Occupational Pension Scheme. Since our associ...
We are in the first stages of “Auto Enrolment” and I can honestly say that Kirsten has been extremely helpful in answering all my queries (and I have had quite a few the last week). She has answered m...
For many years I have been advised by Malcolm Lay, the Director of IFA (South) Ltd I really value, extremely highly, the personal nature of the service I receive from such an experienced and senior a...
Macallan Penfold - Chartered Architects
Having been a business owner for 20 years plus I have been very impressed with the depth and detailed knowledge Sovereign® have provided me and the business. They have also advised mysel...
Sovereign have acted as administrator of our final salary pension scheme for a number of years. Donna Ayrton at Sovereign...
I have worked with Malcolm and the team at Sovereign® Employee Benefits for several years now and they are currently appointed to administer our existing Group Personal Pension and our Grou...
Dean & Reddyhoff Limited
Over the past three years Sovereign and their adviser Paul Howorth have provided sound friendly advice on a number of financial matters from pensions to protection to both us personally as Directors a...
Coil Maintenance Ltd
I have used the services of Malcolm and Sovereign® over the last 20 years in both the business I have managed and as my own personal financial advisor. From a business perspective they have...