A group pension scheme is available to employers with generally five or more employees. Employers can claim tax relief on contributions against corporation tax liabilities and individuals can claim tax relief at their highest rate.
Many employees expect a group pension scheme to be available when considering new job opportunities. Generally contributions are based on a fixed percentage of salary, thus reducing administration in that all employees will pay the same percentage of salary on-going. Employees can also make additional contributions from salary if they so wish.
If your company does not yet have an arrangement, framework financial can provide the advice and detailed information on the various options. Death Benefit & Income Protection benefits can be also added to the scheme.
Each employee would be provided with an annual benefit statement on the pension and some product providers would allow on line access for the employee to their individual pension account. |
