Which Way Financial Solutions

Employer support: day to day queries, questions, events and issues

Employee support: available to deal with day to day queries and question

Employee annual review face to face or group presentation meeting

Employer Governance: an annual process to ensure that any pension arrangements maintain their suitability including ensuring an employer is compliant for automatic enrolment

Employee direct offer transfer service: for employees who have legacy pension benefits and are considering transferring across to their new pension arrangement

Automatic Enrolment: Advice, Support and Education

Help employers to:

Understand (the situation: their duties and responsibilities)

Design (their specific approach)

Implement (what they have designed)

Run (day to day running of their strategy)

Review? (optional but to make sure things are going well and are up to date – audit trail)

Some of the Consultancy Services on offer:

Provider Selection including default fund (formal report – providing an employer with an audit trail: what they are doing and why they are doing it)

Employee communication and engagement (extra communications, face to face meetings, group presentations) – tailored to an employer’s specific budget and requirements

Helping an individual to understand what arrangements they have

Educate and explain their options and what they mean i.e. stop work/draw benefits or phase in retirement over time – draw tax free lump sum? How to generate regular income?

Provide advice regarding their situation and options (formal recommendation report)

Help to implement an individual’s chosen approach (make it happen)

Employer support: day to day queries, questions, events and issues for example: support with a claim

Annual Renewal support: liaising with the employer and provider to ensure a smooth and effective renewal process including collation and submission of employee data and checking and issuing the scheme accounts

Bi-Annual Rate Review: putting the scheme data out to tender to ensure that a competitive rate is achieved

New Scheme Set Up or Existing Scheme Switch – liaising with the employer and provider(s) to ensure a scheme is set up correctly

Explain the concept and specific options i.e. how will the employer National Insurance savings be shared?

Help to design an employer’s approach

Implement their approach including documentation

How it links in with Automatic Enrolment