Having a standard of excellence for your Workplace Pension will demonstrate the benefits of your pension offering to employees and enable employees to appreciate the value of those benefits. It helps to:
- Attract and retain staff, and benchmark the scheme against the competitors
- Encourage employees to save for retirement
- Enable employees to understand and recognise the value of the pension their employer offers and improve confidence in pensions
WHY IS IT A GOOD IDEA?
It provides a competitive advantage in staff retention and recruitment. It supports your employees in saving for a comfortable retirement and it is a useful tool to position your company at the forefront of employer responsibility.
You will be able to evidence some of the following:
- Contributions that exceed the statutory minimums
- Annual governance checks which review how your scheme is run
- Whether you meet regularly and whether members can have a say
- Whether the scheme gives your employees regular information in a way that is easy to understand
We can help you review your current scheme and work towards achieving the above. Contact us on (01603) 760866 or firstname.lastname@example.org.