We help forward-looking organisations invest in their future and the future of their employees
Whether you are looking for guidance on employee benefits and workplace pensions, or on managing your own corporate investments or charitable endowment, we can help.
EQ provides expert guidance to business owners, directors and trustees based on decades of professional experience. Our approach is evidence based and designed to deliver measurable improvements in productivity, employee engagement, retention and wellbeing providing a financial return on your investments.
Our approach is straightforwardWe will help you implement solutions that meet your strategic objectives and fit your organisational culture and your budget:
Business objectivesWe'll take time to get to know you and your business, where you are now and where you're headed.
Employee outcomesWe'll agree on a set of priorities for your people.
Available solutionsWe'll assess the options available in the market and present you with a recommendation.
Implement and trainWe'll make it happen with the right combination of people, process and technology.
Support and reviewWe'll set up a regular review process to make sure that you and your staff stay on track.
OverviewWe will deliver a tailored package based on your needs:
Employee engagementWe can work with you to educate your workforce on the need to save for retirement and help them to make informed decisions about their pension and retirement planning while providing tailored financial advice for your senior staff.
Workplace pensionsWhether it's setting up a brand new company pension scheme, reviewing your existing scheme, transitioning to auto-enrolment or reviewing your options with re-enrolment, EQ has the expert advice you need.
Are your employees saving enough for retirement?
The introduction of auto-enrolment has not made the challenge of engaging employees around pension choices any easier. For employees, auto-enrolment simply creates the impression that everything is now taken care of. In reality, all your staff need to be making informed decisions about their pension.
The earlier your employees start saving, the more comfortable their retirement can be. Most employees should be making voluntary contributions on top of the minimum contributions that come with auto-enrolment, but few do.
We provide a range of straightforward services to help you educate and engage your staff on pensions and retirement:
- Seminars for new joiners – we can run group induction sessions and provide individual support where appropriate.
- Print and digital communications – these can either complement face-to-face seminars or stand alone. We can run webinars, provide booklets in print or PDF format, or via an easy to use website.
- Comprehensive ‘at retirement’ service – the introduction of ‘pensions freedoms’ means that your staff need to consider a number of options as they approach retirement., we are ideally positioned to offer both general and individual advice to help your employees make the best informed choice.
Are your senior staff getting the advice they need?
You may be providing your executives and key employees with a generous pension and other benefits. However, your high earning employees may also need specific, tailored advice on an individual basis. As Chartered Financial Planners, we can advise on all aspects of financial planning matters, including:
- Pension contributions
- Workplace pension governance requirements
- Annual and Lifetime Allowances
- Retirement planning
- The different options on how to take your pension benefits both pre and at retirement
- Tax planning for investments
For more information about our approach, please take a look at our Planning page.
These services can be company or employee funded (or a mixture of both) and can be delivered through one-to-one meetings, group seminars/presentations, ‘lunch and learn’ sessions, or a combination of these. Our services aim to educate and communicate the various options available to individuals so they are better able to make the most suitable choices and decisions for them.
These services provide useful tools for the employer to engage, recruit and hold onto their key appointments and assist with internal succession planning.
The new ‘pensions freedoms’ transformed the workplace pensions market in April 2015. Many employers can now benefit from reviewing their existing pension provision to ensure that it remains fit for purpose. EQ can help you to navigate these changes. We specialise in:
- Pension scheme design, including group personal pensions and master trust solutions
- Existing group pension/market reviews
- Tailored employee communications
- Annual pension reviews for your senior staff
- A comprehensive ‘pre and at retirement’ service
- Pension scheme governance and specialist technical advice
- Review, audit and remedial work
The auto-enrolment rules require all employers to automatically enrol some or all members of their workforce (depending on age and salary level) into a pension scheme which meets certain minimum standards. Most companies are now past their staging date, but if you have not yet staged we can help your business transition to the new auto-enrolment regime:
We offer a straightforward package designed to fulfil the basic pension and automatic enrolment needs of smaller employers or larger companies with a limited budget. Our team can ‘hand-hold’ an employer through the automatic enrolment process and provide advice and ongoing pension services. We can source a suitable pension, set it up, establish the automatic enrolment process and manage ongoing services – enabling you to get on with your usual business.
Few business owners would embark upon running a business without insuring their premises, vehicles, stock and the possibility of becoming liable for injury or damage to staff and/or customers as a result of their business operation.
Yet it is quite routine for business to carry on without insuring it against the risks of losing the very personnel whose input has made the business a trading success – namely the key employees who are the firms most valuable assets. These are likely (but not exclusively) to be some of the directors, key sales people and other managers who have helped to make the business a success.
The potential for a claim or a loss to the company are relatively high, for example:
- 1 in 3 in the UK will develop some form of cancer during their lifetime; someone is diagnosed with it every 2 minutes.
- For a company employing 3 executives aged 30, there is a 50% likelihood that one of them will die before the age 65.
- 1 in 10 men aged 25 will have a heart attack before age 65.
- The most common cause of death in the UK is coronary heart disease. Around 1 in 5 men and 1 in 7 women dies from this disease.
- The average time lost due to serious illness lasting over 6 months is 6.5 years.
- There is a 1:4 chance that a 45 year old male will die before 65.
A person holding a position of responsibility in a business is a vital asset so their incapacity or death could seriously disrupt the business and adversely affect its profitability. Even if it is possible to replace such a key person, the business may still suffer a heavy loss whilst a successor is being sought, trained or gaining experience to take on a new role.
The employer clearly has an insurable interest in the life of such a key persons up to the amount of any anticipated financial loss and can take out a policy on their lives.
Types of cover available
In the event of the insured key person dying, the sum assured will be paid as a lump sum, provided the death occurs within the term of the contract.
Terminal illness assurance
The sum assured will be paid out if the life assured satisfies the provider’s definition of a terminal illness.
Critical illness insurance
In the event of the insured being diagnosed as suffering one of the designated critical illnesses, the lump sum benefit will be paid. Usually the insured life must survive for a period - usually one month.
For example, a heart attack may result in death, which would cause payment under the life policy. If the heart attack is not fatal, then a claim is paid from the critical illness policy.
Quite often the result of a critical illness can be as damaging to an employer as the death of a key person.
Because the immediate effect of loss of a key person can be catastrophic, it is usual to have a combined life insurance and critical illness policy.
Key person income protection (permanent health insurance)
In the event of the insured person being too ill to work, the employer will receive an income to meet locum costs for up to two years.