Pension legislation and the way benefits are provided have changed so much over recent years that many employers feel that they are no longer in total control of this important employee benefit. If we look at the new NEST scheme we see that Government have made it a requirement in law that you must provide your employees a pension and contribute to it on their behalf.
At Wise Financial Consulting we could see that one of the major issues with Group Pensions is that there rarely seems to be individual advice provided for the employees when selecting the best investment strategy or how much to pay into the scheme. It is simply a case of one size fits all or down to the employee to choose the fund to invest in and how much
What does good look like?
Individual Solutions within a Grouped Environment
In our opinion a good Group Pension Scheme has a choice of hundreds of investment funds to choose from to ensure that everyone’s needs are catered for as far as investment strategy is concerned. Individual consultations with one of our IFA’s for every employee will aim to ensure that the employees voice is heard and more importantly listened to. We will advise the individuals on the amount to contribute and the best investment strategy. We then combine this with our overall Investment Strategy and mange the funds using our independent fund research company Rayner Spencer Mills . Please read our Investment Strategy on the home page for further information.