In fact most businesses, when they get into the detail, will realise it is going to cost more than they had anticipated. The focus has been centred on the cost of the new pension contributions. Few businesses are accurately factoring in costs of technology and administration. This is compounded, in that some of the pension providers claim to offer 'free' hub/black box solutions that, on the face of it, reduce the technology/administration costs.
However, there is no such thing as a free lunch. The piece that is being missed is that these solutions cannot stand alone. They require significant interfacing or 'wiring' to render them effective. Without timely pay data from the payroll, they cannot make the most basic of decisions, such as who is to be auto-enrolled.
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