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Contact Us

Arrow Financial Services
46 Watergate Street
Chester
CH1 2LA
Phone: 01244 322 330

Pensions for your business

An excellent way to retain staff in a tax efficient manner. Let us guide you through the many changes and ensure your scheme offers value for money.

The provision of a company pension scheme has long been recognised as an attractive vehicle for rewarding and retaining staff but successive changes to pension legislation have resulted in a complex web of rules which can only be navigated under expert guidance.

The consequences of not having an appropriate scheme in place can be not only expensive in terms of staff turnover but could also mean that you fall foul of the many legal requirements, such as:

New responsibilities on trustees
The requirement to offer a stakeholder pension if 5 or more employees exist
Preparation for the introduction of Personal Accounts and the requirement for employers to contribute.

In addition, our experience has shown that many employers are paying too much for the advice they receive and are using outdated schemes with high charges to the detriment of the employer and staff alike. Furthermore, it may be that scheme trustees are involved where there is no longer a need to use them.

It is hardly surprising that both employers and their staff find it difficult to understand the whole area of pensions, especially when you consider the range of schemes that exist:

Final Salary (Defined Benefit)
Contracted Out Money Purchase (Defined Contribution)
Contracted In Money Purchase (Defined Contribution)
SSAS
SIPPS
Executive Pension Plan
Group Personal Pension
Group Stakeholder Pension

At Arrow Financial Services we are happy to carry out a complete review of your current situation to ensure you are up to speed with the recent changes and ready for those to come.