What we do
- Intelligent Reward Strategy
- Employee benefits software
- Auto Enrolment
- Auto Enrolment Staging Date and Cost Calculator
- Employee benefits engagement
- Flexible benefits
- Benefit selection
- Employee benefit harmonisation
- Benefit administration
- Benefit reporting
- Benefit broking
- Salary sacrifice
- Health and wellbeing
- Online payslips
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Pensions are one of the most important areas of reward, with many employers facing a constant struggle to balance the desire to benefit employees against the cost to the company in helping them save for a prosperous retirement.
Furthermore, the constant changes in legislation, introduced as the Government tries to solve the conundrum of retirement saving, make effective workplace pensions management a real challenge to deliver. The latest iteration of this continual change is auto-enrolment, which will require employers to put all non-members into a qualifying pension scheme, to which both the employer and employee must contribute.
But auto-enrolment is just part of the equation - whether you are closing an occupational pension scheme, changing your pension provider or simply trying to improve pension awareness and education, many employers experience a significant challenge in engaging employees with a benefit that few are motivated to talk about, let alone take action to review. Without engagement, there will be little return for any investment you make into the pension plan.
Since our inception, Thomsons has helped our clients maximise the investment they make in their pension plans, by combining consultancy, technology and communication services to meet their and their employees’ needs. Our pension consultants have a combined 121 years professional experience in managing pensions change and providing ongoing governance and trustee services.
Our Pensions Services
We provide a fully-outsourced solution, which allows employers to tailor the services they receive from us, according to the type of workplace pension they have and their needs. Specifically, we help clients through:
· Consultancy– we cover everything from occupational pension scheme reviews to new contract-based scheme set-up and ongoing governance. Our experts are supporting our clients in meeting the challenges of auto-enrolment with appropriate scheme design and process reviews. We also provide key member services, including Executive Pension Member and Open-Market Annuity services, which can be funded by the employer or the employee.
· Communications– for pensions, communication is vital. Employees are typically disengaged with retirement planning and when they try, they can’t see the wood for the trees. Breaking down the barriers to member engagement, we use a variety of formats, including presentations, one-to-ones, brochures and online media to educate and guide your employees to a better outcome.
· Technology– having a great scheme that is well-communicated in theory leads to one thing – lots of activity. At the heart of our pension proposition is Darwin™, our award-winning benefits administration platform. The platform promotes interaction with pensions through the use of simple modelling tools and calculators, which help employees understand the real impact of how much they pay in and where they choose to invest. In addition to this, it offers seamless integration with providers, HR and payroll systems to reduce the administration burden for you.
Finally, we see workplace pensions as part of the overall reward and benefits jigsaw. We believe that in order to get the best value from your investment, it is vital to have an integrated approach and joined-up employee experience. Our unique combination of consultancy, communications and technology ensures your flexible benefits scheme, pension plan, salary sacrifice and auto-enrolment are all harmoniously managed in the same way and deliver return on investment.
Over 12 years ago, we set out with the aim to do something no one had thought possible or done before, - setting up the first paperless joining process for pensions in the UK. Through lobbying of providers, HMRC and the Government, we achieved this and thousands of members at hundreds of companies have since benefited from our pioneering approach and spirit.
Since then, our prowess in the pension arena has been recognised by being voted “Corporate Adviser of the Year” for an unprecedented six years running and helping our clients, including Electronic Arts, Cisco, Getty Images and Azzuri Communications, to win numerous awards for the innovative ways in which they have approached workplace pensions.
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