‘Biggest expectation of support is on accountants’ finds NEST, as it unveils tool for intermediaries

• Research shows that small and micro employers have low levels of confidence in dealing with pensions and a majority don’t currently offer a pension
• Almost three quarters expect support with automatic enrolment, with more than half expecting help on an ongoing basis
• Majority of employers looking for support intend to turn to an accountant, with up to 20,000 expecting support from their accountant in 2015 alone
• NEST has today unveiled a free new tool to help intermediaries called NEST Connect

NEST research, published today, shows that only 23 per cent of small and micro employers say they’re ‘confident’ about dealing with pensions issues. 74 per cent of small and micro employers don’t offer a pension to their workers. Of the 74 per cent who say they want support from intermediaries such as IFAs, accountants or payroll providers, 59 per cent expect to turn to accountants. That means accountants have a vital role to play in the next stages of automatic enrolment, with potentially up to 20,000 employers turning to them for support in 2015 alone.

NEST’s research suggests employers expect support from the outset, with many expecting help as soon as they start preparations. Many also require ongoing support, with 60 per cent expecting help with administration on an ongoing basis.

NEST today launched a free new online multi-client delegated access function called NEST Connect, built specifically for intermediaries.  It has already been hailed as an ‘intuitive solution’ for intermediaries working with high volumes of employers by its early users. With NEST Connect intermediaries can:

• Set-up directly with NEST as a delegate organisation - Intermediaries can build a direct relationship with NEST without needing to be introduced by an employer. This means intermediaries can plan ahead and be set up and ready to deliver NEST when their clients need them.
• Manage NEST for all their clients through one account - The NEST Connect hub allows intermediary firms to see all their clients on their personalised dashboard, using one login. This removes the need for individual passwords for each client – intermediaries can manage everything from one place, saving time and cost.
• Manage user access within the intermediary organisation - Once the company profile and user profile has been created, the intermediary organisation is in control of setting up additional users giving access to the client accounts that they are working on. They can also remove access. Both of which aides business continuity.

Tim Jones, CEO of NEST, says:
‘This research clearly shows that 2015 employers want help. With 74 per cent of small and micro employers wanting support, around 33,000 employers are going to be keeping the intermediary community very busy in 2015. Almost two thirds of those employers have told us they’ll be looking to accountants for help.

‘NEST Connect was specifically developed to help intermediaries support employers. NEST Connect users tell us that it enables them to build a flexible and effective proposition. They say that’s what automatic enrolment needs – solutions and products that make the process easier, especially as the volume of employers ramps up.’

NOTES TO EDITORS
To find out more about NEST Connect, including case studies of early users, please visit: www.nestpensions.org.uk/nestconnect