Corporate Pension Planning
There are many aspects of corporate pension planning:
Group Personal Pension Schemes – We can advise on setting up or reviewing your existing scheme, tailoring our advice to provide group presentations to your staff and ongoing pension clinics.
Salary Saver – We can discuss the benefits of paying your pension from gross pay rather than net, saving National Insurance for you and your employees.
Retiring Employees – We can offer individual advice to those members of your staff who are nearing retirement and are looking to take benefits.
Auto Enrolment – Research suggests it will take 140 working hours for a small business to process Auto-Enrolment. We can provide a straightforward, efficient and cost effective Auto-Enrolment solution.
SIPP – Directors and Senior Managers may require a more bespoke pension solution, offering a wider range of funds or possibly investing in commercial property.
SSAS – Designed for business owner managers, a Small Self-Administered Scheme can offer a number of benefits, such as providing finance and purchasing commercial property to lease back to the business.
Health and Wellbeing Services
There is a wealth of benefits you can offer to help attract, retain and motivate staff and its important to select those which suit your business.
Death In Service – this pays a tax free lump sum to an employee’s nominated beneficiary. It is usually calculated as a multiple of salary or a flat lump sum for all staff.
Income Protection – this pays out a percentage of an employee’s salary if they are unable to work due to long term sickness, thus relieving the employer of the burden of potentially covering the cost.
Private Medical Insurance – this is a taxable benefit to cover an employee’s private medical treatment.
Health Cash Plans – these are becoming more popular amongst employers, due to their low cost per employee and the perceived benefits to staff. Even the basic policies will reimburse staff for dental and optical treatment, chiropractors, physio and acupuncture for as little as less than £10 per employee per month.
Critical Illness – this provides an employee with a tax free lump sum on the diagnosis of a critical illness as listed within the policy conditions.
Too few businesses have any insurance to cover the one eventuality that can literally mean the end of the business and the income it provides – the death or illness (including critical illness) of a key person.
People are often a company’s biggest asset and losing a key person can be very damaging. The business could be hit by a loss of profit, reduced sales, recruitment/training costs, or disruption to their plans.
Businesses without shareholder protection could be leaving themselves open to the threat of a significant proportion of the shares within their business passing to a family member upon the death of a business owner.
Shareholder Protection allows the remaining partners, shareholding directors or members to remain in control of the business. It provides a lump sum which would be used to buy the deceased members interest in the business and could also include critical illness cover.