Employee Benefit Design

Your Company's ability to attract highly qualified and motivated staff will be enhanced by the offer of a carefully designed employee benefits package. Accordingly, it is important that the benefits package is designed to optimise the available budget. A full review will cover all existing benefit provision and all legacy arrangements including final salary and money purchase pension schemes, death benefits, critical illness cover, income protection and private medical insurance.

 

Scheme Installation

We will create a communication programme which will clearly inform employees about the new package. We will actively manage the flow of data from the company to their providers to make ensure the new arrangements run smoothly.

 

Employee Facing Advice

We will sit down with each of your employees and help them to establish a retirement savings plan which fits with their retirement objectives, attitude to investment risk and is affordable.

 

Ongoing Monitoring

Once the new arrangements have been established, it is important to continue to monitor progress annually to ensure that each person's goals are achieved. This will be a two way process with individuals being allowed to update their personal targets on a regular basis. Experience tells us that members value this hands-on service.

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 recently retired after 17 years as Chief Executive of Support in Mind Scotland, a medium sized Scottish mental health charity.  The organisation has long recognised the importance of accessing independent financial advice prior to retirement and has had an arrangement with Corporate Benefits for a number of years to offer this service to its staff. In my personal experience, the company does exactly what it says on the tin! I was given very helpful, accessible advice.  Iain McCallum was not only proactive in his approach; he was also very responsive to any queries I had.  I was made aware of the various options available to me, including enhanced annuities.  As a result, I improved my net retirement income by 35%, a not inconsiderable amount. As well as receiving guidance with the personal pension arranged through my employer, I also benefited from assistance with the administrative process for other existing pensions. Overall, Corporate Benefits transformed what can be a stressful and confusing experience into one that was straightforward and easily understood.  I would happily recommend them to others.  
Mary Weir (former) Chief Executive Support in Mind Scotland