29 August 2019
Author: Ben_B0m
12 August 2019
We are very excited to release a video explaining our new Pension Transfer Service and would love to hear what you think!
25 June 2019
So many employers and employees are not taking advantage of this method of making pension contributions. With employee contributions having increased in April this year, there has been no better time to look at introducing this benefit, or indeed increasing the employee uptake through engagement and communications.
At Corinthian, we would be delighted to help, so please give us a call.
15 May 2019
The Pension Regulator (tPR) has announced a new crackdown on employers who are avoiding their pension auto enrolment pension duties.
Those suspected of breaking the law will be targeted with short notice inspections and tPR says it is using data to pinpoint specific employers who are failing to enrol staff into a pension scheme, or who make no, or incorrect pension contributions.
These inspections, which will start immediately, are mandatory for employers to take part. Failing to provide information, or obstructing an inspector are criminal offences and could result in fines or court action.
If you are worried about your own auto-enrolment arrangements, please don’t hesitate to give us a call for an informal chat.
11 April 2019
Over 12,000 pension savers have breached lifetime allowance (LTA) protections in the past 12 years, potentially incurring tax bills running into hundreds of thousands of pounds.
Every time the LTA has been cut since its introduction in April 2006, a new set of transitional protection rules have been created. The four types of protection that can be lost when a member contributes to a pension scheme are enhanced protection and three types of fixed protection introduced in 2012, 2014 and 2016 respectively.
The LTA can effectively punish defined contribution savers who enjoy strong investment performance and successive cuts to the allowance in recent years have created a complex web of protections designed to protect people close to the lifetime limit from being unfairly penalised.
A number of these protections come with terms and conditions – namely that you are no longer allowed to contribute to a pension scheme. If you do, the protection is lost and you could face a huge tax bill on the excess.
Around 7,000 of the breaches have been recorded since the introduction of auto-enrolment in October 2012, with a particular spike since 2017 coinciding with the roll-out of smaller business reforms.
It is likely a significant proportion of these people accidentally broke the terms of their protection by failing to opt out of their workplace scheme, either initially or at their re-enrolment date three years later. For these people, the massive resulting tax bill will be a bitter pill to swallow.
This is one of the many reasons why employers use Corinthian Benefits, as we provide education, engagement and advisory services to their employees and help them avoid some of the pitfalls that ongoing legislation creates.
If we can help you and your employees in the same way that we’ve helped hundreds of other companies, please give us a call today.
8 April 2019
We’re very excited about our new brochure and would love to hear what you think. You can check it out here:
4 April 2019
Millennials have a “worrying lack” of awareness as to how pensions work, according to a recent survey.
The majority of those aged between 24 and 34 did not know what happens to pension savings, with over half thinking it is deposited in savings accounts and earning a fixed amount of interest.
The majority of these employees are now actively savings into workplace pensions, via auto-enrolment, so there is a clear need for employers to improve communications, understanding and engagement.
With statutory minimum contributions increasing this month, employees will want to understand more about their pension options than ever before and many will want direct and honest language in communications about their pensions, rather than the usual industry jargon.
At Corinthian Benefits we specialise in improving employee engagement and appreciation of the benefits provided by introducing a comprehensive communications exercise including the following:
- Tailored presentations to different age groups
- Individual one to one consultations
- Personal member booklets outlining the benefits provided
- Online access to personal benefit information
Give us a call today and see how we can help you.
25 March 2019
Welplan Pensions has exited the Master Trust market and says it is seeking a buyer for the pensions it holds. They say this decision was made in response to the Pensions Regulator’s new authorisation regime, which they said was “cost-prohibitive” for many smaller and medium-sized trusts. As a result Welplan says it was “no longer viable” to continue to support its master trust scheme over the longer term.
Welplan says the scheme will continue to support its 1,900 participating employers and 55,000 individual members until they can be transitioned to a new provider, the company also says it will be working closely with its trustee board to actively seek another master trust provider to take over this business.
So, there are 2 questions:
- How safe is your Workplace Pension Scheme? and
- How confident are you that you have the best Workplace Pension Scheme for you and your employees?
At Corinthian Benefits we’ll do all of the hard work for you to make sure you can answer these questions. Even better, you might even save money – most of our clients do when they switch to us!
Why not find out if you can too. Give us a call today and see how we can help you.
15 March 2019
We are offering the opportunity for someone to build a career in employee benefits with us.
Corinthian are a rapidly growing employee benefits firm with a focus on making the complex simple. We provide high quality communication and advice, whilst maximising value for our clients.
Every one of our team takes huge pride in what they do and are committed to delivering an exceptional level of service to our clients in a friendly, yet professional manner.
Your main role will be to assist in the effective acquisition and retention of Employee Benefits clients, and this role provides an excellent foundation and stepping stone to move into a consulting role, if desired. This will include;
- Dealing with client and member enquiries via email, phone, and mail
- Assisting consultants and client managers in the production of reports and presentations
- Implementing new pension and group risk arrangements
- Ongoing client support for the assessment of auto enrolment files
- Managing your on-going personal development within an agreed plan
You will;
- have a can-do attitude and want to develop yourself personally as well as the business
- have excellent communication and IT skills
- have great attention to detail and be a team player
- be willing to get involved as part of our friendly team in Tunbridge Wells
Qualifications and Experience;
- Experience within financial services preferred
- Some financial qualifications ideal
- Employee Benefits knowledge and experience preferable
If this all sounds like you, please contact us on 020 3668 3999.
22 February 2019
Business travellers with less than 6 months remaining on their passports might face difficulties with a no-deal Brexit:
- New rules will apply if the UK leaves the EU with no deal
- Official guidance is that people should ensure there are at least six months left on their UK passports from their date of arrival (child and adult)
- Passport renewal before 29th March is therefore recommended for all EU business travellers to avoid possible business disruption if a no-deal Brexit occurs, with potentially long application delays otherwise
We hope this reminder is useful – if you require any further information or support please just get in touch.