auto enrolment
At Moneyweb, we can ensure your company pension scheme is tailored to both employer and employee needs and requirements. With retirement living standards increasing every year, it is vital that employees are planning for their later years at the earliest opportunity.
Blah Ltd approached us to review their current workplace scheme which was run by a well-known insurance company. Our advice recommended the transfer of the scheme to a mutual pension provider, which reduced the ongoing management charges for the members, offered them all free access to mental health specialists and offered a wider choice of investment options.
The business was fully supported by the in-house implementation team who took care of all the ‘heavy lifting’ in terms of payroll integration.
benefits to the employer:
- Can assist with staff recruitment and retention
- Tax deductible as a business expense
- Meets regulatory obligations. Employers must automatically enrol their eligible workers into a workplace pension scheme. Over time the market has developed and the opportunities for workplace pension arrangements is now more varied than ever
benefits to the employee:
- Competitive costs. A cost-effective workplace pension solution is critical
- Ability to consolidate previous personal and workplace pensions in one place. In a recent survey, approximately half of respondents did not know where their pension was invested, and more than half stated that they did not know the current value of their pension
- Online access. More and more employees are taking an interest in monitoring their pension on a regular basis. Offering the facility for members to keep track of the performance and underlying holdings online is seen as a valuable benefit
- Investment opportunities. With a typical workforce having a wide range of demographics within it, it is important that each member can tailor their workplace pension investment to suit their individual needs and objectives
Moneyweb can assist your employees in ensuring that they are on track to meet their long-term financial goals, as well as providing them with advice on how to aim to achieve these if they are not on course to do so.
