Why do you need a workplace pensions specialist?
Are you complying with current legislation? How can you be sure that the workplace savings you offer are the most suitable benefits? Do you have the most appropriate provider to facilitate and encourage your staff to save for retirement?
Effective management of your workplace savings can help you to stay on top of your pension scheme, keep your employees engaged, and maximise your investment in benefits.
- Keeping your business compliant
If you fall foul of the required compliance it can be very time consuming to put things right and you may have to pay a costly fine.
- Maximising return on investment
Demonstrating to employees the value of your investment in the workforce and helping them understand what employee benefits you offer.
- Managing people risks
Disengaged employees are less productive, meaning your business is less profitable.
How our employee benefits consultants can help
We work with you to reduce the risks linked to your workplace savings arrangements, making sure you remain compliant with legislation. We act independently of benefits providers to give you appropriate advice and solutions. In reviewing your workplace savings, we help you to maximise your spend and return on investment, re-engage your employees with their workplace pensions and ensure they are preparing for retirement.
Workplace pensions product benefits and features
Scheme design and provider selection
We review your pension provider and their capabilities to make sure that they are providing you with the most appropriate solutions. This helps to ensure you are getting value for money for you and scheme members. We can also provide you with advice on default fund choices, contribution structures as well as helping you to design salary exchange programmes.
We can implement your pension scheme and help you to plan effective member engagement strategies. We can integrate your scheme with financial wellness programmes to help ensure that your employees are getting the most from their employee benefits and saving adequately for the future. We will also provide you with annual contribution reviews.
Management and reviews
Our team supplies day-to-day management of your scheme and provides you with regular updates on the progress of the pension plan, including monitoring of management information and the default investment fund performance. We also proactively provide you with explanations of important legislative changes to ensure your workplace saving schemes are compliant and up to date.
We can support you by regularly monitoring your provider to help ensure you and your members have the best solution. We can also assess your workforce to help you understand demographics, investments and behaviours to boost member engagement. We also manage and provide you with auditable tracking of the pension scheme performance.
Workplace pensions case studies
An employer contacted us because they were approaching their three-year re-enrolment date for Automatic Enrolment and wanted to carry out a review of their processes.
We designed an 'under 30s' financial education programme to provide targeted financial education for this age group.
The latest workplace pensions articles in our knowledge centre
It is vital that all employees understand their full employee benefits package and the compensation they receive in addition to their salary.
The minimum employer and employee auto enrolment contributions have just been increased. Will this mean that more employees opt-out of pension savings?