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Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
Ensuring Business Success
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Ensuring Business Success

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  • 1. The St. James’s Place Approach to the Corporate Market WORKING IN PARTNERSHIP Ensuring Business Success
  • 2. St. James’s Place Wealth Management <ul><li>FTSE 250 company with over 80,000 wealth management clients </li></ul><ul><li>Funds under management of £20 bn </li></ul><ul><li>Invested £3bn for clients in 2008 </li></ul><ul><li>70% of new investments came from existing clients or referrals from existing clients </li></ul><ul><li>Financial Times/Investors Chronicle Best Wealth Manager 2008 and 2009 </li></ul><ul><li>Daily Telegraph – Wealth Manager of the Year 2007 & 2008 </li></ul>
  • 3. Retirement Planning Corporate Protection Exit Planning Tax and Accountancy Trustee Investment Insurance Broking Wealth Management Employee Benefits Group Pensions
  • 4. Challenges for your business <ul><li>As well as the challenges you face in the day-to-day running of your business you now have to consider others including : </li></ul><ul><li>Employee Benefits & Employment Law </li></ul><ul><li>Corporate Protection & Business Liability Assessment </li></ul><ul><li>Corporate Investment Strategies and Exit Planning </li></ul>Some of the above may involve a service that is separate and distinct to those offered by St. James’s Place.
  • 5. Looking after your people for the benefit of your business <ul><li>Employees – key to the success of the business </li></ul><ul><li>Cost effective and tax efficient methods of recognising employee contribution </li></ul><ul><li>Recruitment and retention of the best people </li></ul>
  • 6. Employee Benefits <ul><li>Group Life Cover </li></ul><ul><li>Group Income Protection </li></ul><ul><li>Group Critical Illness </li></ul><ul><li>Group Private Medical </li></ul><ul><li>Group Pension Plans </li></ul><ul><li>– Changing Pension Legislation </li></ul>
  • 7. Registered Group Life Cover <ul><li>Benefits for the employer: </li></ul><ul><li>highly valued cover </li></ul><ul><li>flexible and cost effective benefit </li></ul><ul><li>treated as a business expense against tax </li></ul><ul><li>helps attract quality staff </li></ul><ul><li>reduce staff turnover by helping to retain key staff </li></ul>
  • 8. Registered Group Life Cover <ul><li>Benefits for the employee: </li></ul><ul><li>security and peace of mind for dependants </li></ul><ul><li>lump sum paid quickly (usually calculated as a multiple of salary) </li></ul><ul><li>lump sum is not part of the total employee’s estate </li></ul><ul><li>No cost to the employee and favourable tax treatment </li></ul>
  • 9. Group Income Protection <ul><li>Benefits for the employer- </li></ul><ul><li>Helping to solve HR Issues: </li></ul><ul><li>Attracting and retaining staff </li></ul><ul><li>Keeping staff motivated </li></ul><ul><li>Employee health and wellbeing </li></ul><ul><li>Absence management </li></ul><ul><li>Controlling payroll costs </li></ul><ul><li>Managing pension plans </li></ul>
  • 10. Group Income Protection <ul><li>Benefits for the employee: </li></ul><ul><li>An income continues while unable to work </li></ul><ul><li>Helps to maintain lifestyle of the claimant and his/her dependants </li></ul><ul><li>Return to work expertise and help available </li></ul><ul><li>No P11D for the employee if benefits are paid through the employer </li></ul>
  • 11. Group Critical Illness <ul><li>Benefits for the employer: </li></ul><ul><li>improves likelihood of employee returning to work </li></ul><ul><li>mitigates the cost of ex-gratia payments </li></ul><ul><li>enhances employee loyalty and retention </li></ul><ul><li>helps minimise the pressure on the employer around how they provide financial support for employees on long-term sick leave </li></ul>
  • 12. Group Critical Illness <ul><li>Benefits for the employee: </li></ul><ul><li>provides financial resources to pay for private medical treatment and/ or physiotherapy to facilitate recovery </li></ul><ul><li>compensation for time away from work </li></ul><ul><li>provides a means of support for employee and dependants during a critical time </li></ul>
  • 13. Group Private Medical <ul><li>Benefits for the employer: </li></ul><ul><li>Reduce sickness absence costs and increase profits </li></ul><ul><li>Attract the best people with a top benefits package </li></ul><ul><li>Reduce staff turnover and retain key staff </li></ul><ul><li>An allowable business expense </li></ul>
  • 14. Group Private Medical <ul><li>Benefits for the employee: </li></ul><ul><li>Prompt access to treatment </li></ul><ul><li>Patient choice </li></ul><ul><li>A wide choice of hospitals and specialists to suit employees needs </li></ul><ul><li>A Benefit at the top of most employees’ ‘wish list’ </li></ul>
  • 15. How can companies keep employees? <ul><li>46% of employees value their occupational pension more than any other benefits (excluding paid leave).* </li></ul><ul><li>Benefits most valued by employees are holidays (93%) and pension arrangements (73%).** </li></ul><ul><li>Two main reasons employers improve benefits are to boost recruitment (35%) and retention (35%).** </li></ul><ul><li>Cost of recruitment is£4,000, while cost of attrition is £6125.† </li></ul><ul><li>*Employee Benefits Research 2008 </li></ul><ul><li>**Trends in Employee Benefits 2008, Hymans Robertson </li></ul><ul><li>† Chartered Institute of Personnel and Development 2009 (All employees) </li></ul>
  • 16. An introduction to pensions reform <ul><ul><li>Set out in Pensions Act 2008 </li></ul></ul><ul><ul><li>Aim – more people saving more </li></ul></ul><ul><ul><li>New employer responsibilities </li></ul></ul><ul><ul><ul><li>All employers except single-person companies </li></ul></ul></ul><ul><ul><li>Creation of a new personal accounts scheme </li></ul></ul><ul><ul><ul><li>Qualifying Workplace Pension Scheme </li></ul></ul></ul><ul><ul><ul><li>A trust-based occupational pension scheme (Defined Contribution) </li></ul></ul></ul><ul><ul><ul><li>Will be regulated by the Pensions Regulator </li></ul></ul></ul>
  • 17. Get to know <ul><ul><li>Your duties </li></ul></ul><ul><ul><li>What makes a qualifying scheme? </li></ul></ul><ul><ul><li>What are qualifying earnings? </li></ul></ul><ul><ul><li>When do your duties start? </li></ul></ul><ul><ul><li>Decision Time? </li></ul></ul>
  • 18. Your duties in summary <ul><ul><li>Automatically enrol jobholders, aged between 22 and State Pensions Age, into a qualifying pension scheme or personal accounts scheme </li></ul></ul><ul><ul><li>Pay a minimum contribution of 3% of qualifying earnings if they don’t opt out </li></ul></ul><ul><ul><li>Pay a minimum contribution of 3% of qualifying earnings for already active members of a qualifying scheme </li></ul></ul><ul><ul><li>Jobholder, aged between 16 and 22 and over State Pension Age and under 75, arrange to be able to opt-in and pay minimum contributions of 3% of qualifying earnings if they don’t opt-out </li></ul></ul>
  • 19. What makes it a qualifying scheme? <ul><ul><li>A qualifying scheme is one where: </li></ul></ul><ul><ul><ul><li>it’s a registered occupational or a personal pension scheme (incl. stakeholder) </li></ul></ul></ul><ul><ul><ul><li>the employer’s contribution is at least 3% of the jobholder’s qualifying earnings </li></ul></ul></ul><ul><ul><ul><li>the total of the employer’s and jobholder’s contribution is 8% of the jobholder’s qualifying earnings </li></ul></ul></ul><ul><ul><li>An auto-enrolment scheme is a qualifying scheme where: </li></ul></ul><ul><ul><ul><li>Jobholders are auto-enrolled </li></ul></ul></ul><ul><ul><ul><li>jobholders are re-enrolled every three years </li></ul></ul></ul><ul><ul><ul><li>there are no member decisions (eg default investment fund) </li></ul></ul></ul>
  • 20. What are qualifying earnings? <ul><ul><li>Earnings between £5,035 and £33,540 within a 12-month pay period* </li></ul></ul><ul><ul><li>‘ Earnings’ for these purposes include: </li></ul></ul><ul><ul><ul><li>salary or wages </li></ul></ul></ul><ul><ul><ul><li>commission </li></ul></ul></ul><ul><ul><ul><li>bonuses </li></ul></ul></ul><ul><ul><ul><li>overtime payments </li></ul></ul></ul><ul><ul><ul><li>shift allowances </li></ul></ul></ul><ul><ul><ul><li>any statutory pay, ie sick pay, statutory maternity etc </li></ul></ul></ul><ul><ul><li>Most employers currently use % of basic pay with no lower band cut-off </li></ul></ul><ul><li>*These figures are based on 2006, and will be revised by the government in the future. It’s expected to increase for 2012. </li></ul>
  • 21. When do your duties start? <ul><li> Staging and phasing </li></ul><ul><ul><li>Employer responsibilities to be staged </li></ul></ul><ul><ul><ul><li>Over 18 months from October 2012? </li></ul></ul></ul><ul><ul><li>Contributions to be phased in </li></ul></ul><ul><ul><ul><li>All start at 1% employer and 1% jobholder contributions </li></ul></ul></ul><ul><li>Employer cont Jobholder cont* </li></ul><ul><li>Phase 1 1% 1% </li></ul><ul><li>Phase 2 2% 3% </li></ul><ul><li>Phase 3 3% 5% J </li></ul><ul><li>* Jobholders contributions includes tax relief </li></ul>
  • 22. Decision time <ul><li>Does your scheme qualify? </li></ul><ul><li>Does your scheme qualify? </li></ul><ul><li>Which solution for which employees? </li></ul><ul><li>How much do you want to contribute? </li></ul><ul><li>How do you accommodate the additional cost? </li></ul><ul><li>When to act? </li></ul>Which solution for which employees?
  • 23. St. James’s Place Wealth Management <ul><li>For further information on the content of this presentation or any of our other services please contact: </li></ul><ul><li>David Cook </li></ul><ul><li>[email_address] </li></ul><ul><li>Office: 08451 303084 </li></ul><ul><li>Mobile: 07774843651 </li></ul>

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