Phil Harper, Financial Planner
In addition to these regulated employer duties we often encourage employers to consider going a step or two further and supply additional staff benefits, which are a highly-appreciated part of an employee reward package.
We have created a ‘core benefit’ employee benefit scheme, designed for small to medium sized companies with a limited financial budget. This includes a pension, life cover (death in service) and healthcare. From this foundation, a modular benefits package can be built upon over a number of years, providing a powerful case to recruit and retain the best employees.
This regulation came into force in 2012 and has presented companies large and small with many challenges. Aside from the financial impact of setting up a qualifying pension scheme and making contributions for staff, Auto Enrolment also brings added administration to payroll and employee communications.
At fm, we are able to advise clients across the whole spectrum of solutions from adapting an existing pension scheme, to introducing a new arrangement to meet with budget and needs.
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