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Employee Benefits

Chartermarque advise on all aspects of employer sponsored pension schemes:

  • Occupational Pension Schemes
  • Group Personal Pension Plans
  • Autoenrolment
  • Group Risk Arrangements

If designed, implemented and communicated properly, employer sponsored schemes can play a valuable role in rewarding and retaining staff as well as providing a tax efficient way of remunerating directors.

Group Schemes for Employees

Pensions can be a very complex business and navigating your way through the maze of legislation is likely to require the help of a trusted adviser with in-depth knowledge and expertise.

For many employers, pensions are simply an important part of employees overall reward package and is often viewed as “deferred pay”.  However, with the introduction of autoenrolment in 2012, all employers now have a duty to automatically enrol employees who are not already members of a ‘qualifying scheme’ into a pension scheme that meets specified minimum stated criteria and to make minimum contributions. Many large employers have already complied with the legislation and progressively smaller employers (based on employee numbers) will start auto-enrolling their workers.

Though it sounds simple, there are many duties and obligations with which employers need to comply. There are financial, HR, operational and payroll issues that need to be considered as well as the implications for any existing pension arrangements.

In order to comply with the legislation and extract maximum value from a scheme in terms of employee retention and reward, it is vital to get the scheme design and member communication absolutely right. Chartermarque act as employee benefit consultants to a number of companies throughout the UK. We assist with setting and reviewing pension strategy to meet HR objectives within budgetary constraints – including scheme design and implementation.

Group Risk Arrangements

Alongside workplace pension arrangements, companies frequently also provide group life assurance and/or group income protection cover for employees. We can assist in these areas also – in particular by ensuring that the most competitive premium rates are obtained by negotiating terms with those specialist insurers who operate in the ’employee benefits’ market.