Retirement Fund
What is a Retirement Fund?
A retirement fund is a savings plan that can provide regular income for an employee when they stop working. These are often paid in addition to a government pension.
Benefits to Employer
Retirement funds are an increasingly valuable component of an overall compensation package and can help attract and retain talent. This is particularly the case when offering more than a statutory minimum. Providing support through a retirement scheme demonstrates a commitment to the long-term financial security of employees.
Benefits to Employee
A retirement fund enhances an employee’s financial security in retirement. Employers who offer high voluntary contributions are essentially providing additional financial benefits as part of the compensation package. Many schemes offer tax advantages and have automatic enrolment. Combined with the convenience of payroll-integrated contributions ensures that employees are encouraged to maintain an account and plan for the future.
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Ben is easily the most engaged initiative we’ve ever had. It gets everything to everyone in different locations, and I can’t even tell you how much time it’s saved us.
