Corporate Entities

Our team of dedicated financial planners helps businesses comply with the many onerous pension scheme requirements, whilst enabling the solution implemented to be as cost-effective as possible, often using Salary Sacrifice to help mitigate the increased cost.

We are not only experts in advice for group pension arrangements, but can also assist with all aspects of employer related financial planning and employee benefits.

We are not only experts in advice for group pension arrangements, but can also assist with all aspects of employer related financial planning and employee benefits.

Our specialist advisers can also help you with:

• Compulsory Workplace Pensions- Consultancy
• Salary Sacrifice consultation
• Small self-administered schemes (SSAS)
• Occupational Pensions – Consultancy and Investments

The Financial Conduct Authority does not regulate occupational pension schemes.

Workplace Pensions

Compulsory Workplace Pensions

Our experience working with a range of businesses over the years puts us in good stead to help those companies who may not be getting the best from their workplace pensions.

Group Pension Schemes

We can assist with:

• Setting-up and running new pension schemes – we understand choosing the right scheme for your business can be daunting, so we’re on hand to help set up and run your new scheme.
• Auto-Enrolment compliance – we’ll help make sure you’re always compliant with government regulations regarding Workplace Pensions.
• Administration support – we can help minimise the amount of time you spend on the administration of your scheme by offering advice on how to streamline the process.
• Review your existing scheme – we’ll take a look at any areas a management charge can be reduced, service can be improved or wider access to funds can be made available.
• Education for employees – we’ll come to your workplace to talk staff through their pension options. Ideal for new staff, those nearing retirement or wishing to change funds or contributions.

Benefit Trade

Salary Sacrifice

Salary Sacrifice (also known as Salary Exchange) is an alternative way of paying pension contributions. It is a route for employers to legitimately reduce their National Insurance (NI) bills whilst also providing either increased take home pay or pension contributions for employees.

Salary Sacrifice involves an agreement between the employer and an employee to change the terms of their employment contract to reduce their annual salary in exchange for pension contributions.

By adopting salary sacrifice instead of deducting employee contributions from net salary, the employee is effectively earning a lower salary. A basic rate tax payer will save 12% NI and the employer will save 13.8% NI of the employee contribution. This means it is more valuable to both parties than paying pension contributions from net salary.

The employer can pay a percentage of their saving as a pension contribution or can retain the whole saving.

Salary sacrifice schemes are officially recognised by HMRC.

The benefits eligible for salary sacrifice have been restricted since 2016, including mobile phones, company cars and health checks. However, for the more essential benefits, such as pensions and childcare, salary sacrifice is here to stay and effectively using such arrangements can make a significant difference to your finances.

If you are operating a pension scheme for your employees, and you’re not currently using salary sacrifice arrangements, please do get in touch to discuss how this method can implemented to improve your business.

Levels, bases of and reliefs from taxation are subject to change and their value depends on individual circumstances.

Scheme Management

Small self-administered schemes (SSAS)

Like a Self-Invested Personal Pension (SIPP) for an individual, there is the same flexibility with a SSAS to access a broad range of investments and have greater control over the funds invested in.

This freedom means that directors can use their pension plans to invest in the business. Thus, each member of the SSAS is usually a trustee and other members can be nominated to become part of the scheme, such as family members, as long as the scheme is originally established by a company for the benefit of one of its employees. The members of a SSAS are usually key individuals within a business who are part of decisions on how funds are spent.

*The Financial Conduct Authority does not regulate taxation / trust advice.

*The value of investments (in a pension) can go down as well as up and you may get back less than the amount invested.

Where a client’s circumstances require specialist advice, and the local office does not hold the necessary permission from the Financial Conduct Authority, we can draw on the wider specialist expertise available within Perspective Financial Group Ltd nationally. Many of our financial planners hold advanced qualifications in specialist areas of advice, as well as having decades of experience in solving almost all financial planning related issues.

Pension Consultancy

Occupational Pensions – Consultancy and Investments

Our strength as occupational pensions advisers is our ability to explain complicated issues in a clear and comprehensible way.

Our team can help by:

• Providing advice on how to ensure your scheme complies with appropriate legislation.
• Selection of other involved professionals, including investment manager, scheme actuary, administrators, auditor, legal advisers and professional trustees.
• Ensuring that the trustees’ meetings are compliant, including preparation of pension scheme secretarial services if required.
• Providing investment advice, in particular matching investment strategy to scheme liabilities

If you would like to discuss how we can help you please contact us.