ASE Global

Case Studies

|ASE Global

ASE Global

134 UK based employees

One of our clients for whom we have delivered an excellent consultancy service is ASE Global. ASE Global came to Corinthian in September 2017 with a number of improvements needing to be made to their pension scheme, in particular:

  • Pension scheme contribution basis
  • Staff engagement
  • Administration and support
  • Employer costs

ASE Global has 134 members of staff based in the UK who now receive pension benefits

ASE had an existing pension arrangement and wanted to ensure they were offering the best terms and options for both ASE as an employer and their employees by:

  • Minimising the workload for ASE and providing value for money for both employer and pension scheme members
  • Managing and where possible reducing risks to the company, including investment risk, operational risk and regulatory risk
  • Seeking proactive guidance and assistance to ensure ASE continues to comply with their Pension Auto-Enrolment duties
  • Resolving the current complex contribution basis, at minimal cost to ASE
  • Considering the benefits of salary exchange (sacrifice) for those auto enrolled members, to provide savings for both employees and ASE
  • Maximising staff engagement to encourage appreciation and awareness of the employee benefits offered by ASE, to maximise the benefits of the pension scheme

NIC savings

Business team

134 scheme members

Receive pension benefits

£8,000 per annum

NI savings year 1

£21,000 per annum

Possible NI savings year 2

Proposed solution:

  • Simplify scheme whilst ensuring compliance
  • Introduce salary exchange (sacrifice)
  • Negotiate improved pension contract terms
  • Strategic Benefits Review and Governance support
  • Improve member engagement through employee presentations and individual meetings
  • Help members transfer their existing pension pots to the new scheme

Saving money

We undertook a full market review and recommended that ASE move their pension scheme to another provider which offered a comprehensive suite of auto enrolment tools, which their current provider couldn’t provide.

Corinthian also encouraged ASE to make salary exchange an option for all employees and in doing so, could save them over £8,000 in NIC in the first year and this could increase to £21,000 if all employees joined the pension scheme and were paying the contributions at the increased rates which come into effect from April 2019.

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