Article date: 24 September 2012
Compliance and modelling capabilities across multiple pension providers and schemes:
- An online solution to help employers manage their responsibilities across existing and new pension schemes.
- A financial modelling tool that provides a detailed, employee-level view of the best cost options for a business to achieve certification.
- Hub-based design ensures employers retain control of employee payroll data.
- Connects to multiple pension providers’ schemes and payroll systems.
- Automatic compliance monitoring manages on-going enrolments, payments, contribution levels and certification.
- Employee communications are automatically produced with pre-populated letters and email options.
Aviva has launched an online 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:
If you are a journalist and would like further information, please contact:
Diane Mangan, Aviva Press Office
+44 (0)7800 691 714
Fiona Robertson, Aviva Press Office
+44 (0)7800 692 299
Notes to editors:
Aviva provides insurance, savings and investment products to 43 million customers worldwide.
We are the UK’s largest insurer with over 14 million customers and one of Europe’s leading providers of life and general insurance. We combine strong life insurance, general insurance and asset management businesses under one powerful brand. We are committed to serving our customers well in order to build a stronger, sustainable business, which makes a positive contribution to society, and for which our people are proud to work.
We are ranked as one of the UK’s top 10 most valuable brands and Aviva plc is in the top 10% of socially responsible companies globally in the Dow Jones Sustainability World Index. In 2011 we invested £5.3 million into our UK communities. One in three of our employees were involved in community investment activities which included giving nearly 33,000 hours.
Aviva is working in partnership with Railway Children through the Aviva Street to School programme to get children living or working on UK streets back into everyday life. Find out more at www.aviva.co.uk/street-to-school.
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