1-1 Advice

Case Study


Client Profile:

  • FTSE 100

  • Various UK locations

  • 5,000+ employees

  • Ages 18+

The Challenge:

Our client has a diverse range of employees with a considerable number having accrued large pension funds.  They offer every employee the opportunity to have a 1-1 pension meeting with a Lemonade adviser to ensure that they are fully informed on all the options available in order to make the best use of tax efficiencies and investment opportunities.  

Our client is extremely keen to ensure that employees are fully aware of the importance of retirement savings.  They offer a salary sacrifice pension scheme which allows employees to save employee National Insurance contributions and also receive tax relief at their highest rate.  The client has a number of high earners and Lemonade monitor those who are impacted by either of the pension allowances (Lifetime or Annual Allowance) to ensure they take recommended action so as not to get a tax charge for any excess payments.  


What we did:

Since 2006, our team of highly qualified advisers have engaged in face-to-face and interactive telephone meetings with employees on a regular basis.  Meetings can either be an initial ‘new joiner’ meeting whereby the adviser takes the new employee through the entire process of joining the scheme to a general review meeting.  Review meetings generally include changes to contributions, investment fund allocation reviews or if an individual has been impacted by one of the pension allowances.  

We offer maximum funding calculations for those who may find themselves impacted by one of the pension allowances.  Our Client Relationship Manager is in constant contact with our clients’ HR/Payroll Departments to ensure the smooth running of the pension scheme administration and helping to remove any additional workload from these departments.  Each year, we also visit each site for the Annual Pension Roadshow whereby staff, both new and existing, have the opportunity to meet with one of our advisers to review their pension planning.  


1-1 advice meetings are often seen as a costly way of providing help for employees around their pension. However, the impact of 1-1 advice with a qualified adviser can provide a great business case for offering this
— David Pugh, Managing Partner

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Results

 

Ability to analyse and forecast their pension entitlements in the meeting was -

 

The perceived value of company benefits was -