Nicholls Stevens Financial Services

EMPLOYERS

CAN YOU SAVE MONEY ON THE COST OF BENEFITS FOR YOUR EMPLOYEES?

We know that some of our clients who run businesses offer their employees certain benefits such as a lump sum payment to the family should they die, an income for the family if the employee cannot work or access to a private medical scheme.

The rates on these types of scheme do vary and the schemes should be reviewed regularly, at least once every 3 years. It may be that you can save money but still provide the same level of cover. If you have an adviser he is no doubt offering you this service but if you do need a review of your schemes,  Nicholls Stevens Financial Services can offer this to you at no cost

Another idea to save money -  If you offer  your employees any type of pension arrangement and the employees make contributions, it could be preferential for these contributions to be paid by “salary sacrifice” in which case there is a saving in National Insurance contributions