Why review your current position?

Increasing focus on pensions

You’ve probably noticed that pensions are grabbing the headlines in the media at the moment. Whether it is changes in legislation, Final Salary closures or deliberations over compulsory employer contributions, it seems that pensions are creeping up the agenda for employers, employees and the Government alike. The recent Turner report highlighted that individuals will need to save dramatically more to ensure they do not retire in poverty. We feel that the increasing scrutiny on the importance of retirement planning, combined with the changing pensions market, makes now an ideal time for employers to review their existing pension strategy.

Changing legislation

The pension market is evolving. It has recently seen its most radical overhaul with pension simplification. It therefore seems logical that employers assess how the ground lies looking ahead. Our pension risk-analysis service presents an ideal opportunity to receive an impartial update on the implications of current legislation changes and how we believe legislation will change in the future.

Mitigate risk

With Pension Simplification consolidating all tax regimes into one, many of the advantages of operating traditional trust-based pensions have been further eroded. This has led many employers to consider making the switch from trust to contract-based schemes to mitigate liability. Our pension risk-analysis service will allow you to understand what is required to make the change and pass on our experience of how and why other employers have made this change.

Reducing cost

Our pension risk-analysis service will provide you with an opportunity to benchmark your scheme and ascertain whether it is still competitively-priced. Without testing the water though, it is unlikely that you will be able to ensure you are receiving the most competitively-priced pension arrangement. We can undertake an analysis of the cost of fees or commission as well as personal pensions compared to occupational schemes. By working side-by-side with pension providers, we can frequently offer our clients better terms than our competitors.

Find out more about the Hargreaves Lansdown Pension Risk-Analysis Service.