Employers, Group Pensions and Auto-enrolment

Group Pensions and Auto-enrolment

Many companies will set up a pension scheme for their staff. It works under a trust and there are two types:

Defined benefit – this is where employees are promised a defined income when they reach retirement which is calculated based on their salary & length of service. The employer must set aside sufficient funds to provide these benefits. This income continues for the life of the employee.

Defined contribution – this is where a set amount of premium is invested by the employer and employee each month. A fund is built up over time, invested and generates a fund for the employee when they reach retirement age. The employee then has a range of options of how to drawdown this fund into retirement. See options in retirement:

Mason Wealth Management can work with employers and help set up a scheme that suits your business. We will help you choose a pension plan and provider and if applicable we can include additional benefits such as Death In Service and Income Protection. We can also talk to your staff individually ensuring they receive bespoke advise and help them choose an appropriate fund and contribution level.

Auto Enrolement

For employers that do NOT currently have a pension scheme in place, the government is planning to launch a compulsory auto-enrolment pension scheme. The current proposal would make it compulsory for all employers to introduce a workplace pension scheme and automatically enrol employees into it. Employers must then contribute a percentage of each employee’s salary to help fund their retirement. Details & exact dates are not yet confirmed, contact our advisers for more details.

If you are an employer exploring your options, call us today and ask us about Group Pensions.

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Joan H

As someone who had zero knowledge on pensions, where to start, what to invest in and what financial advice to seek, I have been superbly guided and educated on my pension and investments by Justin for the past 5/6 years.

Michaela S

As we're about to start a family, we felt the need to chat to a professional for some advice on how to best manage our finances. The insight and advice we got was far beyond what we could have hoped for! No matter what life stage you're at I've no doubt you'd get immense value from a consultation with Mason Wealth Management.

Jason C

Mason Wealth Management was recommended to me by my accountant over 15 years ago and I'm still getting advice from them even now. What I liked from the start was that you get impartial advice and you do not feel like they are just trying to sell you products. They are on your side and are your advisors. I would not hesitate to recommend Mason Wealth Management.

Paul V

We have had a fantastic experience with Mason Wealth Management. They show genuine understanding and care for us as their client, not just the wealth that we are investing with them. We constantly feel we are being given the advise that is best for us and the command that the firm shows of our portfolio and its active management is both impressive and very reassuring. I'd recommend them to any personal investor.

Peter O

Mason Wealth Management provide us with really sound financial advice based on a real life understanding of our lifestyle choices. They give us the confidence to live our dreams.

Ready to talk about your pension?

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