Making the most of your benefits package



Your benefits are an important part of the reward package you receive from your employer.  It is important that you understand what's available so that you can choose the right benefits for you.
 
At a time when we're living longer and need to make our savings last, we're experiencing an underlying sense of uncertainty on how best we can achieve this.  In addtition, we've also seen changes in taxation and a number of changes to pensions and pension rules.

Pensions


We all know we need to save towards our retirement and that for the majority of people being a member of the company pension is one of the easiest ways to do this.  However, there have been a number of radical changes to pensions in recent years, so there’s a lot more to consider when looking at your retirement planning.

To encourage us to save more, the Government introduced automatic enrolment, whereby if you’re not already enrolled in your company pensions scheme, you may find you soon will be.

2015 saw the introduction of pensions freedom and choice.  If you are aged 55 or over, you now have more freedom and choice for what you do with your pension savings; take the whole fund as cash, take regular smaller lump sums of cash or keep your money invested and draw a regular income.  Making the right decision can be complex.  Understand your options by reading our guide to the changes here.

April 2016 saw further changes to pensions, relating to the lifetime allowance and annual allowance and will most likely only affect you if you are a higher earner or have a large pension pot.

We have put together a guide which provides more information about the changes, how to work out if you might be affected and the steps you could take if you are affected.  You can download a copy of the guide here.


Other benefits


The pension may not be the only benefit available to you, your employer may also offer other benefits, such as life assurance, private medical insurance and income protection for example.  Do you know what other benefits might be available, and have you considered how these could benefit you?

Benefits communication


We think the way in which your benefits package is communicated is almost as important as what benefits your employers is offering you.  And to fully appreciate your benefits, you firstly need to understand them.  We believe talking to you face-to-face is the best way to communicate your pension and benefits.  Watch our film to see what other employees we've seen say about their experience.


Are you an employee of one of our clients?
If you want to know more about any of your benefits or pension, contact us at help@second-sight.com or call 01932 870 785.

You can also access the following key documentation:
Salary Sacrifice Document
Client Agreement & Treating Customers Fairly (fee based schemes)


Please contact a member of the Client Experience Team on 01932 870 785 if you are unsure of the scheme basis of your employer's pension.

Access mysecond-sight.com
Some of our clients’ employees have access to our exclusive Mysecond-sight website.  Mysecond-sight hosts bespoke films on our individual clients’ pension and benefits package, as well as providing access to useful information, documentation, plus much more.
   
If you have access to mysecond-sight.com you can view it here.  You will need to have your username and password to hand.  If you do not have these, please contact your HR Department.

If you are an employer and would like to know more and would like to view a demo, please contact us to register your interest.