Employee Benefits

Group Workplace Pensions

Pensions are a vital part of any employee benefits package. You may already be fulfilling your auto-enrolment obligations via a Group Personal Pension Plan or a Master Trust. Whichever it is, we can help make sure the workplace pension scheme you use complies with regulation and is the right fit for your company. Our Workplace Pension Services offer you complete confidence in the quality and compliance of your company pension scheme arrangements.

Pension Scheme Design and Implementation

  • Auto enrolment – ensuring that auto enrolment legal requirements are met, and processes are robust

  • Default Investment Fund – all schemes must offer a default investment for members who don’t want to make any investment decisions, the scheme’s default fund must be monitored and reviewed

  • Salary Exchange – establishing and managing a Salary Exchange (also known as Salary Sacrifice) arrangement to reduce the cost of contributions and boost employee savings

Scheme Governance

  • Scheme Governance – managing and monitoring workplace pension schemes such as Group Personal Pensions to ensure they provide value, service and suitability to members

Member Education and Engagement

  • Communication – raising awareness to help your employees understand the value of retirement provision

All employers must:

  • Provide employees with the correct pension information

  • Review the eligibility of their workforce

  • Automatically enrol employees into a qualifying workplace pension scheme

  • Make a minimum contribution

Common concerns include:

  • Amount of time needed to research everything

  • Communicating to your employees

  • Amount of admin time needed to implement and run auto-enrolment

  • The extra costs to the business

How we can help you

  • By working closely with you and the pension provider, we can help design your pension scheme.

Our specialist pension team will:

  • Provide advice to select the most appropriate pension provider

  • Help with the scheme set up

  • Review and advise on pension contribution structures

  • Provide guidance on tax efficiency of different contribution methods

  • Liaise with your payroll provider to ensure payroll and pension interact in an efficient way which minimises administration

  • Engage with your employees post implementation to help them understand how the scheme works, and their options

  • Provide ongoing scheme governance to ensure the scheme structure, provider administration and performance continues to remain appropriate and in line with expectations

Make sure your business is taking advantage of the most favourable way to make pension contributions. Consider implementing salary exchange arrangement.