Role of retirement savings in your overall reward and employment deal
- What proportion of our reward budget should we be spending on retirement benefits?
- What flexibility should we be giving our employees in the timing and form of their retirement benefits?
- How do we design our retirement benefits to meet the diverse needs of our diverse workforce, and to be robust to incessant changes in regulation, tax and social security?
- How do we ensure our retirement benefits are affordable and sustainable, and represent good value for money for our organisation and our people?
- To what extent should we (the employer) be responsible for our employees’ retirement savings and how much should our employees share in the cost and risk?
- How much help should we be giving our people in making good decisions about financial wellness and how best to save for their retirement?
- What is our policy for providing retirement savings for internationally mobile employees?
- What benefits should we provide in addition to retirement savings? Protection for illness, healthcare, death, disablement, etc?
How we can help:
- Design and redesign of (defined benefit and defined contribution) retirement savings, healthcare and other benefit plans
- Benchmarking against competitors’ provision
- Affordability assessments
- Advice to executives on the management of their finances, including retirement savings
- Structuring retirement plans to be globally tax and social security compliant and efficient
- Benefit plan communications – written, web-based and face-to-face
- Alternatives to retirement savings as part of reward and long-term wealth accumulation
- Selection of external providers of benefit plans and insurance, and the negotiation of terms and service level agreements