Corporate SIPPs for Employees                       

 

Benefits to your Employees

• A Group SIPP offers everything and more that a Group Personal Pension (GPP) does

• Clear, low charges

• Simple, online access

• Staff can transfer in old pensions and then self invest these funds

• Enhanced benefits from Salary Sacrifice

Benefits to your Company

• Running a Group SIPP can be cheaper than having a Stakeholder or GPP

  • Savings in Salary Sacrifice can totally pay the running costs of the scheme

  • Many companies fund their benefits package by using Salary Sacrifice with a Group SIPP

• Senior staff can be offered the full range of Self Investment options

  • Middle management can be offered a limited range of Self Investment options

  • Junior or lower paid staff can have, if your prefer, a default selection of fund choices, just like a GPP

  • As employees progress in the company they can move up towards full self investment

  • Of course, this is just one possible structure, we can build a Group SIPP to match your Company's needs

• Your company won't be tied in to an Insurance Company's standard pension scheme

  • You will have your own custom-designed scheme

• Group SIPPs can be part of a Flexible Benefits Package
• Having a Group SIPP will make you more attractive as an employer
• No Company Trustees required
• A secure website for employers to administer and make contributions, or we handle that for you

 

When is a Group SIPP suitable?

• If you are winding up, or ceasing further accrual in, an old Final Salary, DB scheme

  • A Group SIPP with salary sacrifice is much cheaper to run, and is attractive to your employees

• If you are closing a Group Money Purchase, DC scheme

  • Cheaper to run, remove Trustee liabilities, more flexible for your staff, much more fund choice

• Instead of a Group AVC

  • AVCs are cumbersome, old-fashioned, offer limited funds, expensive to run, unattractive to staff

• Instead of a GPP

  • GPPs are generally excellent, but Group SIPPs should be considered if you have 50 or more staff

  • For fewer than 50 staff a Group Personal Pension is often the better option

 

or call me, Keith Boniface, direct on 01628 401961

TEBC The Employee Benefits Consultants

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Copyright © 2005 TEBC Ltd
Last modified: 04-Dec-2007