Group pensions

As well as being a legal requirement for employers with over five employees, a pension scheme is an effective way of retaining and motivating employees. In today's employment environment, where individuals move more regularly between jobs, employee benefits play an increasingly important role in attracting and keeping staff.

As part of a benefits package, a good group personal pension scheme will offer your employees security and reassurance. It will help to raise morale as individuals see their long-term future is being provided for. It is also tax efficient for the company and employees.

Choosing the right pension provider is key. Making a bad decision can cost both time and money, as well as hindering your employees' prospects of a comfortable retirement. Over recent years, since the introduction of Stakeholder Pensions, there has been major consolidation in the industry and downward pressure on charges. This is good news, but the overall quality of pension plans still varies significantly between providers and comprehensive analysis is vital to ensure making the right choice.

For more information contact Katherine Finch