Verum Financial - Employee benefits

If you look after your staff, they will look after your customers.

Employee Benefits

Employee benefits are one of the most important investments a company can make and can help you recruit, motivate and retain skilled employees.

At Verum Financial we provide both the experience and expertise to help you offer the most attractive and cost effective benefits package for your employees.

We will provide you with a complete solution to develop and manage your schemes, from initial review through to implementation and our dedicated administration service ensures that the benefits you offer remain right for your employees.

Verum Financial focuses on building strong, long lasting, trusted relationships with all our clients.

Workplace Pensions & Administration

We offer an independent advice service and will make recommendations based upon an objective and comprehensive analysis of the Workplace Pension market and tailored to the employers requirements.

Workplace Pension Schemes will include:

  • Group Personal Pensions
  • Occupational Pension Schemes
  • Multi-Employer Mastertrust Pensions
  • Self-Invested Pension Plans
  • Individual Pension Plans

Advice can cover areas such as:

  • Compliance with the Workplace Pension legislation
  • Review and Recommendations of suitable Workplace Pension Scheme providers
  • Pension Scheme Tax Relief and Salary Sacrifice
  • Maximum Pension Funding options for high earners
  • Scheme Default Investment fund review

We also offer a range of support services to employers to assist with running their Workplace Pension Schemes.

  • General administration and liaison with pension provider, payroll and employer
  • Management of Pension Scheme contribution submissions and employee enrolment processes

Group Risk Insurances and other employee benefits

Verum Financial acts on your behalf as your agent and we offer an independent advice service and will make recommendations based upon an objective and comprehensive analysis of the market and your requirements.

This service covers products such as but not limited to:

  • Group Life Insurance
  • Group Critical Illness Insurance
  • Group Income Protection
  • Private Medical Insurance
  • Health Cash Plans

We can also help with other employee benefits such as:

  • Travel Insurance
  • Cycle to Work schemes
  • Dental Insurance
  • Employee Assistance Programmes
  • Flexible Benefits Options.

Employee Financial Education, Support and Guidance

As employees go through different stages of life, their financial goals are likely to change. What’s important when an employee first starts work, may be different to when they start a family or get closer to retirement

    E

    Early years

    • Basics of Budgeting and living within means
    • Understanding debt including credit cards, car loan, student loans
    • Building savings and establish a good credit history
    • Benefits of starting to save for retirement
    • Saving a deposit for property purchase
    E

    Building Years

    • Reviewing Budgets and prioritising spending needs
    • Getting on the property ladder and having a mortgage
    • Protection needs for your home and family and setting up a will
    • Emergency savings and benefits of pension, tax relief and ISA investments
    E

    Mid Life

    • Paying down mortgages or clearing other debt
    • Increasing pension investments and understanding maximum funding options
    • Preparing for retirement looking at expected retirement income and needs
    • Help with children’s university fees, weddings or deposit for 1st home etc
    E

    Retirement Years

    • Understanding options on how to take income in retirement
    • Accessing retirement funds and reviewing budgets
    • Estate planning
    • Downsizing and options for later life
    N

    Early Years

    On entering the workforce

    • Basics of Budgeting and living within means
    • Understanding debt including credit cards, car loan, student loans
    • Building savings and establish a good credit history
    • Benefits of starting to save for retirement
    • Saving a deposit for property purchase
    N

    Building Years

    Family and Career Building Years

    • Reviewing Budgets and prioritising spending needs
    • Getting on the property ladder and having a mortgage
    • Protection needs for your home and family and setting up a will
    • Emergency savings and benefits of pension, tax relief and ISA investments
    N

    Mid Life

    Mid Life and Pre Retirement Years

    • Paying down mortgages or clearing other debt
    • Increasing pension investments and understanding maximum funding options
    • Preparing for retirement looking at expected retirement income and needs
    • Help with children’s university fees, weddings or deposit for 1st home etc.
    N

    Retirement Years

    How to make the most of retirement

    • Understanding options on how to take income in retirement
    • Accessing retirement funds and reviewing budgets
    • Estate planning
    • Downsizing and options for later life

    Many employees can struggle to understand basic financial saving and investment options.

    We offer a range of services including direct communications, one-to-one guidance meetings, group presentations and remote employee support such as telephone and email helplines. This service is a guidance and information service and can cover areas such as but not limited to:

    • Explanation of the employee benefits being provided by the employer
    • Understanding of the Workplace Pension options including explanation of the default investment fund and alternative investment fund options
    • Retirement funding including minimum and maximum pension contributions and provision of an Employee Retirement Income Projection
    • Annual Allowance and Tapered Annual Allowance Calculations
    • Benefits and disadvantages of Pension Salary Sacrifice, if offered by the employer
    • Pre and Post Retirement Options
    • Basic money management such as how to deal with debt, budgeting and general savings guidance
    • Guidance and information on other investment options such as ISA’s including Lifetime ISA and other general investment accounts
    • Understanding Health and Wellbeing options provided by the employer and general protection needs
    • Understanding the mortgage process

    Employee retirement income projection (ERIP)

    A key part of our Workplace Financial Education Service is an Employee Retirement Income Projection. This will enable employees of all ages to see if they are on target for the income they may need in retirement.

    The projection provides information on target income needed in retirement and can include all pension benefits such as previous pension plans as well as the State Pension.

    The ERIP will provide a total income projection highlighting any potential shortfalls and we can then help employees understand what options they have including how to improve their retirement outcomes.

    Financial wellbeing

    Our Financial Guidance service can also assist employees with their overall financial capability which is vital in helping them manage life’s financial ups and downs and to prepare for the future.

    This can include helping employees understand: 

    • Personal Budgeting
    • Debt Management
    • Saving, Investments
    • Mortgages
    • Understanding Tax on Pensions, Investments and Savings
    This service is a Guidance and Information service only offered via Verum’s Corporate Benefit Proposition. Employees who require specific individual advice, or, who have been identified may benefit from such advice will be directed towards Verum Financial’s Wealth Management advisory service. This service will provide specific regulated financial advice and is usually a chargeable service directly to the employee.

    Financial Advice

    We also offer a range of individual and corporate regulated financial advice services.

    Verum Financial - Wealth Management & Financial Planning for Families, Individuals & Employers

    Verum is a team of experienced and highly regarded Financial Planners who are driven, determined and committed to helping you make the most of your future

    A proud member of Best Practice IFA Group Ltd, one of the most widely respected financial services groups in the UK.