Key advantages of a Group SIPP for an employer

Retention of financially sophisticated employees

Offering a Group SIPP may help attract and retain senior employees. As a relatively new employee benefit, any company offering a Group SIPP is likely to benefit from first-to-market cachet.

No trustee liabilities

A SIPP is a personal pension so does not carry any of the trustee liabilities associated with traditional occupational schemes. It may also carry lower charges than traditional trust-based pension schemes, but should offer greater investment choice.

National Insurance savings

If employees waive a percentage or proportion of their bonus into a pension, the employer can save 12.8% in National Insurance Contributions (NICs), since employer contributions are paid gross. This saving can be retained by the employer or shared with the employee via enhanced contribution levels.

Simple administration

The HL Vantage Group SIPP offers a payment collection facility that competes with the best available.

Secure employer website

This offers great functionality designed through our experience of running group pensions. It allows employers to make secure contributions, check the contribution history and amend details of employees online.