Role of retirement savings in your overall reward and employment deal

Your issue:

  • 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