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Lostock-based bakery company, Greenhalgh’s, has been producing quality cakes, breads and baked goods for more than 50 years. The company employs a workforce of more than 900 across its head office operations and its 62 retail outlets and already had two company pension schemes in place before the Government introduced auto enrolment. However, financial director, Ray Lyons, was still keen to consult Taylor Patterson for the company’s advice on how to ensure Greenhalgh’s implemented effective workplace pensions across its business
Ray explains: “We had worked with Taylor Patterson for several years and the company already managed our two pension schemes, one of which is for the company’s directors, with the other providing for our senior employees. Our auto enrolment staging date was November 2013 but Taylor Patterson first alerted us to the need to prepare for the process in the spring and we started the ball rolling with a fact finding meeting in September.”
Time and Costs
The initial meeting in September was to discuss the financial information that the Taylor Patterson team needed to make its recommendations to Greenhalgh’s and to inform the company of some of its options. Taylor Patterson had discovered that the pension provider for the main company scheme was planning to charge customers for the use of its auto enrolment software so recommended a move to another provider with free access. The company was also able to advise Ray’s team on the steps required to ensure that the directors’ pension scheme complies with new Workplace Pension legislation.
Ray continues: “We were aware that there would be some costs attached to complying with auto enrolment legislation but Taylor Patterson’s approach to helping us minimise those costs was invaluable. The company also alerted us to the option of postponing our staging date for three months to help us prepare for the changes and we took up that option, enabling us to engage with the process at a more manageable pace and avoiding our hectic pre-Christmas period.”
Communication across the business has been a critical element in the transition process and Taylor Patterson worked with the new pension scheme provider in issuing the regulatory communications to all employees explaining how they will be affected by auto enrolment. They were also available on site to answer any questions or concerns employees had.
Ray continues: “The team at Taylor Patterson tailored the information supplied by the pension scheme provider to create a bespoke information pack for our staff and they are working with us on an ongoing communications strategy regarding auto enrolment. Taylor Patterson has also provided a helpline so that our employees can contact them direct for expert advice on the scheme and their options and those considering opt out have made use of that facility to fully understand their choices and how it would affect them.”
Taylor Patterson has also worked closely with the payroll team at Greehalgh’s because so much of the administrative burden of auto enrolment needs to be managed via the payroll. Taylor Patterson has liaised closely with the payroll manager to ensure that the company has the necessary software add-ons and the company also sat in on a webinar session from the pension scheme provider to explain any technical detail.
Ray adds: “We have always trusted Taylor Patterson to advise us on the company’s pension scheme requirements and they have helped us negotiate our new auto enrolment obligations. Thanks to Taylor Patterson, the process has been much more manageable and more cost-effective for the company while ensuring the best outcomes for our valued employees.”
For more information on how we can help you with your auto enrolment planning, please contact Paul Jackson on 01772 555073 or email email@example.com