Pension Consultancy
UK employers must offer a pension scheme to all eligible employees and administer the scheme to conform with Government auto-enrolment legislation. At the same time employers will want to know that their scheme remains competitive which will help with staff recruitment and retention.
For a free, no obligation consultation, please email us to see how we can help, or call 01727 734040.
Core Services
Our core service helps employers administer, manage and review their pension scheme on an ongoing basis to ensure the scheme remains compliant and fit for purpose.
This typically includes:
Auto-enrolment strategy & compliance
Annual governance & scheme certification
Default fund investment performance and suitability
Scheme health check
Adviser helpline for employers and employees
Annual strategy meeting for management team
We can also offer a range of value-add services to help increase efficiency and reduce costs.
Value-Add Services
In addition to our core pension services, we can provide many value-add services to help reduce costs or improve efficiency and understanding of the benefits on offer.
Governance and Pension Management Committees
In addition to our core Governance service we can help implement, manage and run your pension management committee. We can help define scope, terms of reference and meeting agendas. We can provide employee member training and support to help stakeholders improve their understanding of the pension scheme.
Benefit Benchmarking
Auto-enrolment has made offering a pension scheme a legal requirement. Understanding how your benefits compare to your industry or specific peers, will help ensure you remain competitive to attract and retain quality staff.
We can provide general data, industry specific data and on a project basis, analyse benefits from specific named companies.
Employee Communications
To ensure your employees understand and appreciate the workplace benefits you provide we can set up and run an employee communication strategy tailored to your business needs. We offer written solutions and face to face presentations
and webinars. See separate page later in document for more information.
Pension Review and Scheme Switch*
Our core service helps employers administer, manage and review their pension scheme on an ongoing basis to ensure the scheme remains compliant and fit for purpose.
Many pension schemes we now come across were established prior to, or because of the introduction of pension auto enrolment obligations. Many have been set up to meet the Government’s minimum contribution criteria and as a result may now be high charging or uncompetitive.
As part of our open market review service we will look in detail at your scheme and gather open market tenders from applicable pension providers. We can often secure terms with member charges less than half of existing terms. We can also often introduce savings of around 0.7% of payroll by introducing salary exchange.
Benefits can include:
- Reduced charges for employees
- Significant savings for employers
- Increased understanding of benefits
- Appropriate default fund
- Increased fund choice
- Increased flexibility
We are independent advisers and can therefore secure terms from the open market.
Benefit Harmonisation
We work with many acquisitive clients who are keen to harmonise different benefit offerings. We have great experience in assisting our clients to conform with TUPE obligations and ensure a single strategy can be adopted for all staff.
Salary Exchange, Feasibility, Implementation and Ongoing Management and Administration Implementing salary exchange can
Implementing salary exchange can have substantial advantages to the employer and employee. Typically an employer can see savings of around 0.7% of payroll and most employees are immediately better off.
We can check the feasibility of salary exchange, calculate the cost savings for employers and help implement and communicate this benefit to employees. See separate page later in document for more information.
Testimonials from Employees
Please find below feedback from employees who met with a TISCO adviser in April 2015.
These employees were in an existing scheme for which TISCO took over employee communications. Employees were met on a one-to-one basis for a non-advised 30 minute guidance session.
50 people were met and 24 responses were gathered.
This represents every un-edited (including typos!) response received.
* following our review we may recommend you switch to a new pension arrangement if we consider this appropriate.
