Institute of Financial Planning sponsor Standard Life has launched a toolkit for firms on implementing auto-enrolment and its potential cost impact.

The launch comes after a report by the National Employment Savings Trust which found over half of small firms with less than 5,000 employees were expecting a ‘lot of help’ from pension providers and advisers ahead of auto-enrolment.

The Standard Life kit contains information on pension reforms, an employer checklist, data exchange guides and pension reform information for employees.

A pension reform cost calculator will help employers and adviser understand the cost of auto-enrolment by checking if a firms’ current scheme meets legislation requirements, showing how costs can be implemented gradually and how providing employees with the option of salary exchange can reduce costs.

Ann Flynn, head of corporate marketing, said: “From our research and discussions with employers it is clear that many are scratching their heads as to how to tackle the implementation of auto-enrolment.

“They’re not entirely sure of the steps they need to take to meet their responsibilities, how much work is involved and importantly, how it will impact their bottom line.

“The cost and infrastructure impact will be a major concern for most businesses so these tools will help form the basis of discussions between advisers, HR teams and finance directors.”

Auto-enrolment is being implemented for the largest firms from October.