With life expectancy increasing, your pension fund needs to provide an income for a longer period of time
Many of us put off arranging a pension because we feel we need to know more about them before we invest - something most of us simply don’t make the time for. This, combined with a greater need to save for our futures, is putting a pension scheme very high up on the wish list of today’s job seeker. Modern company pension schemes can play an important part in attracting and retaining quality candidates.
Defined contribution schemes
These schemes are cost effective, flexible, portable and easy to understand. Our purchasing power enables us to negotiate the most competitive terms for you and your employees, resulting in a larger fund being accumulated, generating more tax free cash and income for members at retirement.
Defined benefit schemes
These schemes are becoming less popular due to their high running costs and the level of risk associated with them. As a result many employers have decided to close them to future membership.
At the Jelf Group we can help you manage the risk associated with these schemes in a cost effective manner and, if appropriate, assist with their closure. We can then help you plan and implement a new scheme should that be the best option for your company.
We’ve a wide range of experience in evaluating risk, administration and providing investment advice so we can help you manage this process of change with a constructive and joined-up communication campaign.
Design, implementation and communication
Pensions typically represent employers’ largest spend on employee benefits and it is therefore crucial to ensure that you achieve good value for money from your investment. Key to this is providing an appropriate, well designed and communicated scheme.
At the Jelf Group, we can help you decide which pension scheme best suits your requirements. We specialise in launching and communicating schemes, ensuring your employees understand and appreciate this valuable benefit. We can provide a fully supported proposition through scheme design, implementation, employee communication, and ongoing scheme review.
Scheme governance
The Jelf Group can assist with the often complicated process of scheme governance and provide support and assistance in areas specific to your needs.
Forecasting pensions
If you’re thinking about retirement, it’s wise to review your pension plans as early as possible. Our retirement guides and retirement planning calculators can help members identify just how much they should consider saving in order to achieve their target pension at retirement.
The next step is to determine how to reach that target. The Jelf Group can help members to do this by meeting with them to discuss their options in a one-to-one environment.
Dedicated scheme manager
We will ensure your scheme has a professional and friendly team to look after you and your employees. A scheme manager will act as your first point of contact and work with you to ensure the smooth and effective administration of your scheme.
Transfer team
We all seem to collect pension “baggage” over our lives as we change jobs. The Jelf Group can give members the chance to consolidate these into your company pension scheme if appropriate, potentially saving money by offering lower annual management charges.
Retirement counselling and the annuity service
Many people find that they are more in need of advice the closer they get to retirement. For this reason, the Jelf Group provide counselling for those approaching retirement, covering a variety of different issues including healthcare provision, tax planning and investment advice.
Deciding how to go about providing your pension income - and if by annuity, which annuity to choose - is one of the most important retirement decisions you will need to make. We can help your employees make the right decisions at this crucial time.
The Jelf Group’s annuity service provides invaluable advice at the point of retirement which provides scheme members with access to a comprehensive review of the annuity market.
“The team are extremely knowledgeable, thorough and helpful. They are effective and efficient at dealing with associate’s queries and very supportive of the business. They understand that companies often have unique challenges when communicating to their staff both in terms of logistics and complexity.”
Judy Luckins
Honda of the UK Manufacturing Ltd