Look beyond the default auto enrolment options

Paul Rowe

Workplace pensions are not just a matter of regulatory compliance, they can be an effective way to attract and retain the right employees, as well as a useful tool for supporting employee’s financial wellbeing.

But how often do you review your workplace pension? You and your employees could be missing out on schemes that offer better value and flexibility.

Many business owners, when setting up their workplace scheme used a ‘default’ provider like NEST, however, pensions have become increasingly competitive, and by reviewing your scheme, you may stand to benefit from:

  • More competitive charging structures
  • Salary sacrifice, which allows your employees to take a lower gross salary in exchange for higher pension contributions, with both the employer and employee saving on National Insurance Contributions
  • Ongoing financial education and guidance
  • A broader range of investment choice – providing more choice than the ‘default option’
  • More choice and flexibility when accessing your pension in the future.

Pro Start Pensions can help you manage this process, providing:

  • Access to the workplace
    pension market, we are independent advisers.
  • Help for you with ongoing reviews and support with compliance
  • Help for your employees with seminars, workshops and one-to-one sessions to help them do more with their money.
  • Help with consolidation of pensions from previous employment.

Enjoyed this? Read more from Paul Rowe, Pro Start Pensions

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