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Pensions Auto-enrolment is the future and ICB Pension Solutions will help you every step along the way

You have no idea how important you are to me’ - wise words from former Pensions Minister, Steve Webb, at the Bookkeepers Summit 2014. ICB has been studying the auto-enrolment and pensions market closely with a view to finding solutions that will make the auto-enrolment process safe and simple.


ICB Members


Non-ICB Member


 

“Quite often we hear that ICB members simply don’t know which way to turn and that they are perplexed by the confusion within both the payroll and pension worlds. With all the talk of non-compliant software and pension providers retreating from view, the small and micro employer can only wonder what on earth is going on! Added to this is the regulatory minefield surrounding auto-enrolment and the constant rumours of future mis-selling. As a responsible body, we wanted to ensure that we researched the market and were able to give our members the confidence to talk to their own clients about a solution that was affordable and, more importantly, came with advice.

“I am very pleased to announce that ICB has collaborated with Aviva and LEBC Group to create ‘ICB Pension Solutions’, an online auto-enrolment solution and pension scheme; available not just to ICB members but to all small businesses”

Garry Carter

ICB Chief Executive

What is ICB Pension Solutions?

ICB Pension Solutions (ICBPS) handles the entire Auto-enrolment process from providing a qualifying workplace pension scheme to implementing the compliance software. Ongoing it will ensure both the system and the scheme remain fit for purpose to meet the standard requirement set out in legislation.

You will be able to select different aspects of the service proposition to suit your own particular requirements even to the point of subcontracting the process to LEBC through their Managed Service proposition.

In addition ICBPS is supported by dedicated teams of experts from LEBC and Aviva to ensure that the process is as smooth as it is designed to be.

 ICBPS will:-

  • Provide a ready-made pension scheme that meets all the quality criteria required by legislation including a charging basis below the cap set by legislation. There are no minimum numbers of employees or contribution levels required - all are welcome.
  • Require a simple and straightforward client set-up with pre-selected choices to streamline the decision making process.
  • Provide all calculation processes
  • Be payroll agnostic – can work with all payrolls.
  • Issue all regulatory communications either directly to members by email, or, through letters in a pdf format.
  • Maintain a complete set of records; providing an audit trail for your client.
  • Produce Statutory Certificates.
  • Issue annual governance reports to satisfy the regulator's Code of Practice.
  • Assist with the Declaration of Compliance.

 

Why has ICB partnered with LEBC Group Ltd and Aviva?

In selecting LEBC Group Ltd and Aviva to help ICB develop an Auto-enrolment solution for its members, ICB has chosen two organisations with well respected reputations in their particular fields of expertise.

Why Aviva?

  • The UK’s largest workplace pension provider with over 120 years’ experience and expertise.
  • Financially strong - Rated A (Superior) by AKG Actuarial Consultants, the highest rating available.
  • Helps you meet your auto-enrolment obligations – Aviva’s Company Pension meets or exceeds all the government’s guidelines for workplace pensions.
  • UK-based telephone and email support – a dedicated ICB Pension Solutions helpdesk will deal with any queries you or your clients have.
  • Rated 5 Star by independent financial researcher Defaqto – so you can have confidence you’re getting a high quality scheme for your business and clients.
  • Easy to manage – online administration helps minimise the time you or client need to spend managing the scheme. 

Why LEBC?

  • ICB has had a close working relationship with LEBC Group for the last 16 months and especially since July 2014, when ICB formally accredited their auto-enrolment software, æComply. Whilst ICB talked to many other providers about setting up ICB Pension Solutions, LEBC Group has spent a lot of time and effort talking to ICB members about their concerns over auto-enrolment and coming up with solutions based on the issues faced on the ground by ICB members.
  • Established in 2000, LEBC Group is a national company that provides impartial and independent financial advice in a refreshingly different way, for individuals and organisations alike. 
  • LEBC has a national network of specialist advisers, supported by dedicated staff at 14 branches throughout the UK, including Birmingham, Bristol, Cardiff, Cambridge, Chertsey, Edinburgh, Glasgow, Hull, Leeds, Leicester, London, Manchester, Preston and Reading.
  • Since launch, LEBC Group has grown to become one of the UK's most respected providers of quality independent financial advice and employee benefits. 
  • LEBC has won multiple awards including the coveted Money Marketing Award for the Best Annuity Adviser, Best Retirement Adviser, Tenet Connect IFA firm of the year and the Health Insurance Award for Best Cash Plan Intermediary. 

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The belief of many commentators is that the first person most micro-employers will turn to for auto-enrolment help is their bookkeeper. Brian Gabriel, Manging Director Workplace Savings Aviva
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