PENSION SCHEMES

Changes due to take effect from 2012 in the future of pension planning within the UK cannot be ignored, with the government's introduction of National Employee Savings Trust schemes (NESTs) formally referred to as Personal Accounts.

Company assisted pension planning is one of the most common Employee Reward Solutions, ranging from Trust based Occupational schemes to groups of Individual Money Purchase schemes benefiting from purchasing power of groups.

As most companies do not wish the intrusive responsibilities or ongoing additional costs historically associated to pension planning, most of the schemes we establish are Group Personal Pension (GPP) schemes. This ensures the control over the accumulation and access of benefits held within members accounts in a GPP is with the employee, resulting in the employer's involvement being minimal due to the all inclusive procedures CDFS has for dealing with such schemes.

It is our experience that by meeting and advising employees there is a greater understanding and take-up of the benefit being offered, something we try to encourage all employers to allow us to do. Whilst assisting members in the accrual of benefits, it is similarly important to ensure they have an understanding of the choices available to them as they reach their selected retirement.

In addition to assisting in the implementation and maintenance of GPPs, we have extensive experience in advising companies on a variety of occupational or specialist schemes such as:-

• Final Salary (Defined benefit) schemes
• Contracted In Money Purchase Schemes (CIMPS)
• Small Self Administered Schemes (SSAS)
• Group Self Invested Pension Plans (group SIPP)
• Qualifying Recognised Overseas Pension Scheme (QROPS)