> Company pensions > Start a company pension

Start a company pension

Starting a company pension is all about getting three big things right.  You need a pension plan which:

Is easy to set up and to run;

Is compliant and suits the business you’re in; and

Offers you and your employees great value and service.

Whiteboard drawing

1. Setup and admin

Setting up a new pension

With the right advice, it’s easier than you think to set up a company pension.  And clear thinking at the start will make the job of managing staff pensions a lot easier later on.  There are choices, for example, regarding what kind of pension to offer, which pension provider to use, and how it should be invested.

Running a company pension

The key to smooth administration of your company pension is to put sound processes in place.   We’ll help you through decisions on how to make ongoing payments from payroll, how to engage staff, and how to onboard and offboard staff as they join and leave or retire.

2. Compliance and choosing the right pension type for your organisation

You may already be aware that employers are required to provide staff members with access to a PRSA, if no company pension is available to them.

But is a PRSA or a company pension right for your business?  We’ll help you weigh the advantages of providing PRSA access versus establishing a company scheme.

These days, also it’s much easier than in the past for companies to use external providers for pension compliance and management activities such as trusteeship.

3. Great value and service

Customer satisfaction is critical for your company pension plan to operate successfully.

Above all, we believe in the importance of coaching your employees on why saving into a pension is worthwhile, and helping them take control of their financial future.  That’s why Moneycube is on hand for group presentations, lunch-and-learns, or however your organisation most effectively communicates with its staff.

Whether it’s ongoing advice to senior leadership, regular employee engagement sessions, or one-to-one financial planning, Moneycube strives to offer great value and service to our company pension plan clients.

 

Read on: Review or switch your company pension

 

 

FREE

Starting a company pension, or upgrading your workplace benefits? Our free ebook guides you through your options, and shows you how to put a compelling plan in place.

Company Pensions for SMEs & New Businesses