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Employee Benefits

A generous employee benefits package can be a great way to attract the best applicants to work for your company and retain existing employees. Although certain benefits may be legally required, for example, paid holiday or auto-enrolment pensions in the UK, other benefits are provided by companies who feel a sense of social responsibility towards their employees, and truly care about their health and well-being and that of their families. Our experienced advisers can tailor a cost-efficient benefits package for you to offer to your employees, whatever the size of your business.

Group Life Insurance

Group Life Insurance provides life cover to eligible employees while they remain in your employment. These plans provide a lump sum benefit or pension to the family of your staff members on their death: this could be a fixed sum or two-, three-, or four-times salary, whatever is deemed appropriate.

Group Income Protection

Group Income Protection is designed to provide your employees with an income (typically 50% to 75% of salary) if they are unable to work for a prolonged period due to ill-health or accident. This income will commence after a deferred period selected by you, for example, three, six or twelve months. The policy will continue to pay until the individual returns to work or the selected retirement age is reached, whichever is sooner.

Group Pension Scheme

LMS Partners offer access to several group pension scheme arrangements for you and your employees. This could be a non-contributory basis for your employees (i.e. company contributions only), a non-contributory basis for the firm (i.e. employee contributions only) or a matched contribution basis.

Setting up schemes on a ‘salary sacrifice’ basis can result in significant savings for your firm in National Insurance payments, which can then be passed on to your employees as an additional benefit. Employees will also save on their individual National Insurance payments, in addition to the income tax benefits they would make on any personal contributions.