Over the past three years, our Employee Benefits team at The Goodman Partnership has set up more than 30 workplace pension schemes for local and national businesses, including architects, car leasing firms, charities, consulting engineers, dentists, house builders, lawyers, PR companies and private schools. We have also been appointed to review and take-over existing workplace pension arrangements.
If you entrust us to administer your workplace pension scheme on an ongoing basis, our service will involve an annual governance report which includes a review of compliance as well as suitability, administration and employee engagement.
While the employer itself is our client, we regard engaging with their staff and getting them onboard with the service we are providing is essential. When our clients have introduced a workplace pension scheme, we would offer to provide staff with a group presentation, explaining the rationale and benefits behind saving for the future and what a good level of contributions looks like.
Understandably a lot of people don’t find the prospect of listening to anyone telling them about pensions very enthralling… but we’ve had really positive feedback from our presentations. For some members of staff, particularly younger ones, it’s probably been the first time they’ve ever given saving for the future a thought, so our goal is always to make our presentations straightforward and as engaging as possible.
Once a workplace pension scheme has been set up and is running, we continue to communicate with staff members. Some clients ask us to come in on a regular basis and introduce their particular workplace pension scheme to new joiners, while we also typically go in annually to give existing staff an update.
When we talk to new members of staff, we outline all the employee benefits we manage for the firm – which could typically be the workplace pension scheme but might also be life cover, medical and health insurance. We’ll talk about the particular pension scheme we run and discuss contributions etc. It might well be that new joiners already have a private pension scheme, so we’ll talk about the options regarding this – although transferring it might not always be the best option.
When it comes to existing members of staff, our annual update will also cover contributions. Over the past few months, we’ve also been in to see client firms to talk about the mandatory increase in minimum contributions for both the employer and the employee, which took effect from 6 April this year. Contributions are also set to rise in April 2019, so our current presentations are also outlining what these changes will mean too.
If required by our client, we can also provide one to one sessions and, moving forward, we have packages which include further presentations to staff.
We know from many years of positive feedback that our presentations are considered valuable and informative by the staff that attend but we also provide supporting literature and telephone assistance where required.
If you’d like to talk about your Workplace Pension Scheme or other employee benefits, call Graham Rose at The Goodman Partnership on tel: 01892 500623 or email: email@example.com or click here