As the ‘crisis’ surrounding final salary pension schemes continues to deepen, we are well positioned to consult and advise any employers with these schemes. We will carry out a thorough audit of any final salary scheme before providing a comprehensive analysis identifying:

  • Present and potential liabilities
  • Analysing data in light of current and proposed changes in legislation
  • Potential taxation consequences of advice given

We have a clear understanding of the opportunities and often the need to restructure final salary benefits, and reduce the running costs. We also have an comprehensive knowledge of the dilemmas that trustees and company directors face when considering the impact that legislation, mortality rates and investment returns can have on these schemes and indeed can advise on the ongoing viability of a final salary pension scheme.

Frequently Asked Questions

The concept of a Workplace Pension Scheme was introduced by the Pensions Act 2008.  All employers in the UK are required to establish a Workplace Pension Scheme on their Staging Date.  On you Staging Date and each subsequent Pay Period you must carry out an Assessment of your employees.  The employer must deduct a contribution from the earnings of all their Eligible Employees and pay this to the scheme along with an employer contribution.   A process called Automatic enrolment.

“I established my first personal pension with Corporate Benefits on starting a new job in 2014, having previously held a corporate pension.  Being fairly new to pensions, Corporate Benefits were extremely helpful in giving me enough information and advice to understand the tailored pension they recommended for me.  They have happily answered any questions I have had during the process, including helping me to understand clearly the breakdown of payments and investments.  With the pension recommended for me, I have been able to monitor the pension growth and personalised regular investment reviews made via a web portal which has been both interesting and rewarding.  At my first yearly review, earlier this year, I was pleasantly surprised by the growth over my first year and reassured that the regular monitoring of my pension strategy are benefiting me over the longer term.”
Dr Ewan Towie