Workplace pension provider Aviva has launched a new tool for business advisers and accountants to help them create simple but bespoke cost reports for their clients. The aim is for a business adviser to be able to quickly and effectively answer the number one question most employers will have – ‘How much is auto-enrolment going to cost me?’
The reports, called ‘Auto-enrolment Costs Explained’, require just a small amount of information and will then generate a breakdown of costs and charges. A business adviser will only need details of their own charges and the client’s workforce and within minutes they will receive a link to the report.
The costs covered include those from the adviser, the set-up, administration and fund charges from Aviva, and the annual auto-enrolment contribution cost to the employer and their employees.
Andy Beswick, Managing Director of Business Solutions at Aviva, said:
“We understand that advisers and accountants want to be able to communicate the costs of auto-enrolment to their clients as clearly as possible. The ‘auto-enrolment costs explained’ reports do exactly that. Advisers can quickly and easily get a cost breakdown for their client which they can then share. It will give the employer and the adviser or accountant a clear indication of costs before they move on to the quote and apply system.
“We have been working hard to make auto-enrolment journey as smooth as it can be. We will work with businesses of all sizes, including micro employers, to help them fulfil their workplace pension obligations.”
1.4 million companies are still due to set up their workplace pension scheme between now and 2018. To help them, as well as the ‘Auto-enrolment Costs Explained’ reports, Aviva has also created a 10 minute quote and apply system and a guide to auto-enrolment for SMEs.
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If you are a journalist and would like further information, please contact:
Ben Moss in the Aviva Press Office
Landline: 0117 928 5843
Mobile: 07827 832 395
Email: ben.moss@aviva.com
Notes to editors:
• Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers, across 16 markets worldwide
• In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.
• Aviva’s asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £289 billion in assets.
• Aviva helps people save for the future and manage the risks of everyday life; we paid out £30.7 billion in benefits and claims in 2015.
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