Group Pensions

In many cases, offering your employees an effective pension scheme that offers security and comfort in retirement can be the deciding factor in the choice of whether or not an individual chooses to work for you and how motivated they are.

Employers have a range of options when it comes to providing pensions for their employees, or even for themselves. When you employ five or more employees, legislation requires the employer to provide access to a pension plan, although the employer does not necessarily have to contribute. Such plans can be Stakeholder arrangements or Group Personal Pension (GPP) plans. Both fall under Personal Pension Plan rules.

Other pension plans can suit a particular business for a variety of reasons. There is nothing to prevent an employer running different pension schemes for different groups of staff, so owners or executive staff may have schemes that are more suited to particular business and/or tax planning needs. This may be useful when dealing with higher paid staff or to enable the business to make investments in property. For example, the businesses own premises can form part of the assets of the pension fund that will provide future retirement income.

Different schemes have different obligations and areas of flexibility that we can advise your business on. It's important to choose the right options for your particular business and with such a bewildering range of companies that provide Group Personal Pension plans and Stakeholder Pensions it's important that you get the right advice. Mercier Allen Associates can help you select the most appropriate pension plans by matching the policy with your business and selecting a provider with whom you and your employees will be comfortable with for the long-term success of any pension arrangements made.

For further information or to arrange a no-obligation consultation, call us on 01403 268562 or visit our contact us page.

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