Aviva has launched an on-line automatic enrolment modelling and compliance solution to provide a fast and secure way for employers to manage their on-going pension responsibilities.
Auto-enrolment Manager for Employers (AME) is designed to enable employers, working with their advisers, to efficiently prepare for automatic enrolment, as well as manage on-going requirements such as employee enrolments, contribution levels, certification and payroll monitoring.
AME has been developed using the Software as a Service (SaaS) model. The hub-based solution connects to multiple pension schemes and payroll systems, and can be used across other providers' pensions, not just Aviva's.
AME's powerful processing engine rapidly processes employee data, allowing employers to stay up to date with their compliance requirements. It also produces written and electronic communications for employers to send to their employees to keep them informed about each stage of the process.
With financial modelling capabilities, AME allows employers to assess the implications of the various options open to them. Through this functionality, employers and advisers can assess the cost to the business of adopting different automatic enrolment approaches, such as the type of pension provision for their employees or the level of contributions made.
Aviva's Managing Director of Corporate Benefits, Graham Boffey, said:
"We're at a turning-point in how Britain's workers save for their retirement as automatic enrolment brings pension saving to millions of workers for the first time. With employers taking much of the responsibility over the next few years it's important we provide solutions that are straightforward, fast and efficient.
"As a hub-based solution, AME connects to a diverse range of pension schemes, regardless of the provider, and securely processes data from payroll systems. Employers can use it whether they have one scheme in place or multiple schemes, and the additional modelling capabilities give them a head start in making the right decisions for their business."
Aviva's film explaining the benefits of AME can be viewed via this link:
As well as its AME solution, Aviva is also supporting the rollout of automatic enrolment through:
Single and multiple pension scheme solutions for employers, using Aviva's core group personal pension (GPP).
A strong Aviva default fund for automatic enrolment schemes, using Aviva's Life-stage Default Approach (ALDA). This is a life-stage solution with a 10 year de-risking period utilising a range of investments.
On-going education and awareness specifically for automatic enrolment through our online guides: