Workplace Pensions

Does your workplace pension provide value for the business and deliver good outcomes for employees?

Workplace pensions are a crucial component of your employee benefits package, as it supports your employees’ ability to save for their retirement. But, without periodic reviews it’s difficult to know whether your scheme remains compliant and if the scheme is still delivering good value for money for your employees.

At SG Corporate Services, our team specialise in supporting both small and large businesses with expert pension advice, delivering scheme compliance while maximising cost-effectiveness for both employers and employees.

Why workplace pensions matter

A strong workplace pension scheme demonstrates that you value your employees’ financial security.

• Meet legal obligations – ensure ongoing compliance with pension regulations and avoiding potential fines.
• Improve financial efficiency – reduce costs through smart pension strategies, including salary exchange.
• Attract and retain talent – employees increasingly consider pension benefits when choosing an employer.

When should you review your workplace pension arrangements?

1. Significant time has passed since the last review.
2. You’re concerned about compliance with HMRC or The Pensions Regulator.
3. Investment performance appears to have been poor.
4. There has been a business merger or acquisition, and you are operating several different schemes.
5. Members’ charges have continued to increase year-on-year.
6. You want to explore salary sacrifice arrangements to provide savings for your business and employees.
7. Employee engagement is low, or employees often misunderstand.

Our solutions

Our expert workplace pension advisers in our Norwich and Ipswich offices will help to make sure you choose the right pension solution for your business and employees.

Compliant workplace pensions

Since the introduction of auto-enrolment, all eligible employees must be automatically enrolled into a workplace pension scheme. As an employer, you’re legally responsible for ensuring compliance with the Pensions Regulator’s rules.

You should also consider cost-effectiveness for both your business, and that for your employees. If the charges are high in comparison to the investment returns, perhaps an alternative is more suitable.

It’s important for you to select the right pension scheme and choose a provider that aligns with your company’s goals and budget. Whether you’re setting up a new pension scheme or reviewing an existing one, our team can help you meet your business needs.

Salary sacrifice

Also known as salary exchange, this is an efficient way for both employers and employees to contribute to workplace pensions while reducing National Insurance Contributions.

Instead of making pension contributions from their take-home pay, employees agree to a reduction in their gross salary, with the equivalent amount being contributed directly into their pension by the employer. This reduces taxable income, resulting in lower National Insurance Contributions for both employer and employee while increasing pension savings.

Our team can assess whether salary sacrifice is right for your business and, if so, handle implementation and provide ongoing support.

We’re here to help you

• Dedicated employee benefits consultants: Our consultants are employee benefits and workplace pensions specialists. They only work with businesses, giving you the peace of mind that their advice is informed and in your best interest.
• Personalised advice: Each client is different, and we base our advice and recommendations on the needs of your business and its employees.
• Independently owned: We’re not tied to specific providers and can access the entire market to find the most suitable solutions for you.
• Transparent charging: You’re made aware of our competitive fees from the offset. We prefer to work on a fee-based charging system and will not take commissions, were possible.
• Reduce administrative burden: Our guidance streamlines processes and ensures smooth management.
• Ongoing support: Our team are available to review your arrangements on an ongoing basis and will work with you to ensure everything remains suitable.