Employee Benefits

Making sure your company has a good employee benefits package in place is an important factor in today's competitive market. It can help you attract and retain the right kind of people and is also a cost effective way of providing for your staff in times of need, helping to make them feel valued and secure.

A huge range of employee benefits are now available. Some of the more common benefits:

Company Sponsored Pension schemes

Group Personal Pensions
Group Stakeholder Pensions
Occupational Money Purchase Pension Schemes
Final Salary Pension Schemes
Directors Pensions

Healthcare services

Group Private Medical Insurance (e.g. Bupa)
Cash Plans
Dental Schemes
Health Screenings
Employee Assistance Programmes (EAPs

Also available

Group Income protection
Death in service/Group Life Assurance Schemes

Key to the take up and appreciation of employee benefits is an employee communication strategy to ensure the value of what you offer is understood and there is support available to assist employees with questions. This is particularly important in relation to your pension scheme.

Picasso HR have recently partnered with Beckett Financial Services Ltd to give our clients access to high quality independent Employee Benefit advice and services. Beckett Financial Services Ltd can provide advice across the full range of Employee Benefits from setting up a new Private Medical Insurance Scheme or Stakeholder Pension Scheme to a full audit and restructure of your Employee Benefit arrangements. If you would like to take the next step we will arrange for you to be contacted for an introductory meeting.

Before introducing any new Employee Benefit arrangements or making changes to existing arrangements Picasso HR can ensure any changes do not breach Employment Law or existing Terms and Conditions of employment.

Forthcoming impacts on Employee Benefit.

Change in basic rate tax relief: From April 2008 basic rate tax will be changing from 22% to 20% - make sure you communicate the impact on employee pension contributions during March 2008 at the latest.

National Pension Savings Scheme/Pension Savings Accounts (NPSS): Introduction of this new compulsory Employer pension scheme is scheduled for 2012. Employers will need to contribute 3% and employees will need to contribution 4%. Some employers maybe exempt if a “better” scheme is offered but the detail of this is yet to be decided.

Investors in People: A health standard to be implemented by the end of 2007

Employee Benefits

Company Sponsored Pension schemes

Healthcare services

Also available

Forthcoming impacts on Employee Benefit.

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