Companies are finding it increasingly difficult to pass on benefits to their employees and are looking for ways where they can streamline costs and save money. In particular the areas of company pension schemes and employee benefits offer the biggest cost-saving opportunities. Some of these savings can then be passed on to their employees or kept within the company with a view to implementing further employee benefits.
From experience, our business advisors have found that for the majority of companies they have advised, they have been able to achieve significant cost reductions.
The firm has experience of advising their corporate clients on all types of group pension arrangements. We form strong working relationships with our clients to ensure that we are able to provide them with solutions that achieve the desired outcome.
Our advice can focus on reviewing existing arrangements or implementing new pension schemes. An existing relationship is maintatined by regularly reviewing the pension provisions and benchmarking them to the market.
We view our advice process not as a transactional service, but one where the employer can benefit from a long-standing relationship with the wider firm.
We advise on all types of group pension schemes [PDF].
Whilst our engagement is primarily with the employer, a notable part of our corporate service is to provide comprehensive financial planning advice to the directors and senior staff. This may be as part of the group pension arrangement or as part of our separate wealth management offering.
We can advise and arrange group risk assurance [PDF] for employers. We listen closely to their requirements and tailor solutions to satisfy them within their desired budgets.
Group risk assurances can be a powerful factor in attracting and retaining staff, provided that the benefits of membership are properly communicated to staff. We work with the employer to prepare communications and deliver seminars to ensure that the benefits are fully appreciated.
Once in place, we re-broke schemes to ensure they remain competitive and take action where not. This allows employers to ensure that they are maximising value.