As well as implementing software and procedures to make auto-enrolment an easy process for our clients, we have arranged for the creation of an eligible pension scheme, an area which is perhaps one of the more challenging aspects of auto-enrolment.
The CESG Workplace Pension Scheme
In cooperation with our partners and advisors, CESG is pleased to offer a specially designed occupational pension scheme.
Pension schemes must meet a specific set of rigid standards to meet regulatory approval for auto-enrolment. The CESG Workplace Pension Scheme meets all of them:
The way that the pension has been set up means international workers can also join, making it ideal for global employers with a diverse workforce.
International workers will have an offshore arrangement with the same provider, creating a seamless pension scheme set-up. Such arrangements allow more flexibility for such employees leaving the service to take the full value of their savings as a lump sum. CESG were the first employment provider to offer this product for non-UK workers within our industry.
The scheme also allows employers more flexibility – for example they could pay bonuses that are only available after a certain period into the scheme. This enhances retention and allows the employer to reward key members of staff.
In the past offshore arrangements like this have been very expensive. However, thanks to unique relationships with our partners, the fees attached to the CESG Workplace Pension Scheme are highly competitive.
Contact us now for more information.