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ICB Pension Solutions

  • 9 posts
  • # 112632

Hi everyone, 

As most of you will probably be aware, last year ICB announced the launch of ICB Pension Solutions in collaboration with Aviva and LEBC group. The proposition has been up and running for a while now and I thought it would a great idea to create a space for members to discuss ICB Pension Solutions, their experiences using it and auto-enrolment more generally.

Glynn Jones, Divisional Director of LEBC, will also be contributing to this thread and will be able to give you guidance around issues you might be facing.

The core principle behind building ICB Pension Solutions was to create something of value to the ICB Community, so it would be really great to hear from you all.

All the best.

Matthew 

  • 5 posts
  • # 112687

Hi everyone at ICB.

 

As Matthew outlines, LEBC have created the ICB Pension Solutions with ICB.

Please feel free to ask any question around auto-enrolment, pensions and the ICB Pension Solutions and I will endeavour to answer them correctly and quickly.

Please note that on this forum, I can only answer for generic information and guidance, if you need specific advice, then please contact me outside of the forum.

 

To do so, please icbmemberservices@lebc-group.com

 

 

  • Fellow
  • Practice Licence
  • 1073 posts
  • # 112722

Hi Mathew And Glen 

 

Well I have signed up my first payroll client with you 15 employees for managed services from 1st July as the staging date is not till Feb 17 we have moved it forward.    However this particular client is nice but I know for the future as shown in the inspire tour if they get the price LEBC is charging us they will niggle at any markup we get, claiming we are not doing anything other then sending a report.   

In this particular case the billing will go directly to them and I will invoice my cut.   However if the billing was going to me I don,t  really like the feature that LEBC is telling our client how much they are charging us for the ( Managed Services) I am not talking about the pension payments.   It makes it very difficult for us to have a markup and consider paying for our client.  I feel that part of the agreement is between my client and us if I am billing them for the whole service.   I appreciate it is for  honesty reasons but it then makes it less worth while  for the bookkeeper.   Can we loook at this going forward. 

 

I know it is our membership that brings in the deal but the clients in the main are not happy about the pension and will argue with us abut taking a cut for pressing a button.  

I think there are a lot of clients who will not look at Auto Enrolement  till it is closer to the time and they will small firms with 1 to 5 employees in the main. 

  • 5 posts
  • # 112724

Thanks, Sarah

In the design of ICB Pension Solutions, Aviva's Risk Committee instructed that the costs for LEBC and the ICB Member could not be bundled into one.

This is because the arranging of the pension by LEBC is regulated and we have to declare our costs, whereas your services are not, so you would have a mix of services and costs which could confuse clients.

Aviva insisted on the transparency of costs and services.

I see what you are saying about the Managed Service as distinct from the service of setting up a pension and I will review that aspect further for you.

  • Fellow
  • Practice Licence
  • 44 posts
  • # 112789

I have gone round this one a bit too.  However, I finally decided that I would set a fixed fee for setting up auto enrollment for my clients whatever scheme they choose. The cost of the scheme is then on top of that.  But I sell it on the basis that they get a £100 discount for getting it through me.  I also charge a monthly fee per employee for maintaining the scheme/client's compliance - the LEBC charge is again on top of that.  

At the end of the day I am happier with that because my fees are totally transparent.

Do watch out that Aviva don't try to charge your client a monthly fee as well however, I just managed to head that one off at the pass via Sarah Foreman today.

Sylvia Bourhill

  • Fellow
  • Practice Licence
  • 44 posts
  • # 112790

I have gone round this one a bit too.  However, I finally decided that I would set a fixed fee for setting up auto enrollment for my clients whatever scheme they choose. The cost of the scheme is then on top of that.  But I sell it on the basis that they get a £100 discount for getting it through me.  I also charge a monthly fee per employee for maintaining the scheme/client's compliance - the LEBC charge is again on top of that.  

At the end of the day I am happier with that because my fees are totally transparent.

Do watch out that Aviva don't try to charge your client a monthly fee as well however, I just managed to head that one off at the pass via Sarah Foreman today.

Sylvia Bourhill

  • Member
  • Practice Licence
  • 29 posts
  • # 113336

I missed out on the webanairs  they were all fully booked, are there any plans to revisit this.  

Thanks

Jane 

  • 5 posts
  • # 113342

JC.BKS said:

I missed out on the webinars  they were all fully booked, are there any plans to revisit this.  

Thanks

Jane 


 Good morning, Jane

 

Yes, there are.

Due to demand, webinars are being reintroduced.

Dates are just being finalised, but we are looking to recommence next week.

  • Member
  • Practice Licence
  • 29 posts
  • # 113390

I have realised today that I hadn't received any notifactions of the webanaire (last time we were emailed), I checked this morning and can only see one on 25 July which is sold out, can you advise if anymore are to be put on?

  • 5 posts
  • # 113391

JC.BKS said:

“I have realised today that I hadn't received any notifactions of the webanaire (last time we were emailed), I checked this morning and can only see one on 25 July which is sold out, can you advise if anymore are to be put on?”

 Good morning

 

We are pleased that the webinars are well attended.

 

We have just announced three further webinars;

Tuesday 19 July  - 2.30pm

Thursday 21 July  - 9.30am

Thursday 28 July – 12pm

Details are under the Events section of the website.

 

Thanks for your feedback!

 

Glynn



Edited at 15 Jul 2016 09:00 AM GMT

  • Member
  • Practice Licence
  • 29 posts
  • # 113392

I can't see them yet.  Will keep looking.

  • 5 posts
  • # 113393

JC.BKS said:

“I can't see them yet.  Will keep looking.”

 Great; it's hot off the press!

  • Member PM.Dip
  • Practice Licence
  • 6 posts
  • # 113396

I would really like to do one of these webinars, as I have just been asked by my only payroll client if I can help with auto-enrolment, and I know very little about it at the moment. I can only see the sold-out one on 25th July too...please do more!

  • Member
  • Practice Licence
  • 29 posts
  • # 113397

I would like to do the Tuesday session but need to know as soon as possible so I can amend my diary.  The dates are still not showing?

  • Member
  • Practice Licence
  • 29 posts
  • # 113398

The additional dates are now on the Events page.  

Thanks

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