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Employee Benefits

Employee benefits are products and services than an employer provides to their staff in addition to their monthly salary.

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Modern employee benefits packages can include a range of benefits that reward staff for their hard work and aid their wellbeing.

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"Get in touch with Askaig Newington to speak to our financial planning team.

 

Our experienced professionals have a wealth of knowledge and a shared commitment to providing the best possible service to our clients.

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Whether you're looking to secure your retirement, grow your wealth, or navigate a complex financial situation, we're here to provide personalised advice."

What are the main types of employee benefits?

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While the range and variety of different benefits offered by UK companies is broad, there are a number of benefits that are commonly provided by employers.

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These include workplace pension and savings schemes, group insurance policies such as life assurance and private medical insurance, and financial benefits such as bonus or profit share schemes.

Why do employee benefits matter?

 

A well-considered employee benefits package can be an extremely important tool in recruiting and retaining the best talent for your your business.

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At small and medium-sized companies it's not always affordable to pay a market-leading salary to your current or future team.

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For some employees, take-home pay is paramount. But for many, salary is just one of the factors considered.

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Workplace culture, job satisfaction, and being part of a dynamic and growing business are hugely important factors for many individuals, and a well-balanced employee benefit package can be a vital component in supporting these factors.​

 

Book a meeting with a financial planner

 

Our initial meeting comes at no cost – it’s an opportunity for us to get to know each other and allows us to gain an insight into your current situation, goals, and objectives.

 

Our friendly financial planning team bring a wealth of experience and expertise. All our discussions are confidential, and you will never be asked to commit or sign up during our first meeting.

How to get in touch

6 Wrotham Business Park

Barnet

EN5 4SZ

How do I choose which benefits to include?

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By creating a well-considered employee benefits package, you can have a profound impact on your employees' long-term wealth, health, wellbeing, and job satisfaction.

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It's best to take a strategic approach by engaging with your team to find out which benefits they will value the most, before deciding on which benefits you are going to introduce.

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Adopting a piecemeal or ad hoc approach can leave employees confused about what benefits are in place, and risks introducing benefits that have little to no value to your team.

All information It is based upon our current understanding of current legislation and HMRC guidance. While we believe this interpretation to be correct, it cannot be guaranteed that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Thresholds, percentage rates and tax legislation may change in Finance Acts and bases of, and reliefs from, taxation are subject to change and their value depends on an individual’s personal circumstances. 

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Life Assurance plans typically have no cash in value at any time and cover will cease at the end of term. If premiums stop, then cover will lapse. You should review the level of cover required on a regular basis to ensure that it keeps in line with your earnings, otherwise, cover may be less than you need. If any relevant information provided, when applying, is not disclosed accurately and honestly, this could result in any cover offered becoming invalid and / or may result in the non-payment of any future claims. 

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