Reuben has recently received a £5,000 bonus and would like to invest it. As his employer takes advantage of our Flexible Savings Platform, he read up on the Workplace ISA through his company intranet and decided to take it out online.
As a result of effective financial education, your employees can understand how to maximise the value of their benefits through the WEALTH at work flexible savings platform, utilising the Workplace SIPP & Workplace ISA. This can often supercharge the value of your existing employee benefits such as share schemes and pension plans.
Helping the individual to maximise their wealth and take greater control over their finances.
There are many advantages in using the flexible savings platform as an integrated approach such as:
- Tax savings – for example, integrating a Save As You Earn (SAYE) scheme with the Workplace ISA, will allow your employees to transfer SAYE shares into the ISA and mitigate their capital gains tax liability.
- Double tax relief – for example, integrating a Share Incentive Plan (SIP) with a Workplace SIPP would let your employees benefit from double tax relief.
- Unique tools and modellers – an employee can see how to reduce a tax liability on company share scheme profits by linking them with a pension or ISA. The modeller helps to illustrate the impact of tax on the scheme at maturity.
- Holding company stock - this is helpful for those employees who need to hold a certain amount of stock as part of their employment contract – we can ensure this is done in the most tax efficient way.
- Diversification –the flexible savings platform allows employees to diversify their Company share holding therefore reducing the risk of having 'all their eggs in one basket'
- Annuity broking tool –allows your employees to compare annuity deals at any point in time.
- Pension Provision – We can incorporate a Group SIPP alongside existing pension arrangements or as a replacement. Salary and bonus sacrifice can also be made through the flexible savings platform.
- A user friendly interface – we will create a website for you that can help deliver financial education to your employees and also ensure that they get the most out of the flexible savings platform. The website would be completely secure and branded with your corporate identity which would consolidate the total offering in a single view.
