Establishing or maintaining pension arrangements for staff is still regarded as a core employee benefit, providing valuable tax planning opportunities. However, it can be a complex and time-consuming task, complicated by changes in legislation (with more on the way in 2015).
It is imperative the arrangements are suitable and cost-effective for each type and size of employer, as well as the employees. Many companies have found that overlooking the implications of legislation and developments in benefit structure in recent years has resulted in complicated and expensive solutions, often with additional pressures following mergers and acquisitions.
Unfavourable press, plus the impact of poor investment returns have dented confidence in pensions as a whole and it is even more important both employers and employees receive advice that is relevant and affordable.