Pensions
Hendersons Employee Benefits can advise companies on what type of pension to offer to employees. In the current market, there are two main pension schemes, known as Defined Benefit Pension and Defined Contribution Pension.
A Defined Benefit Pension, also known as Final Salary Pension, is a pension plan in which the monthly payment on retirement is the basis of the ‘defined’ formula used to calculate the employee’s pension contributions.
A Defined Contribution Pension is a pension plan where employee’s individual contributions are invested in, for example, the stock market or pension investment funds, and the returns on investments are then put into the individual’s pension pot. Contributions in this pension plan are defined, however the outcome will only be known once the employee is looking to retire.
The two main areas of pension scheme advice we can offer through HEB are listed below; clicking on the links will bring you to more detailed pages. Each area includes a wide-ranging variety of aspects; therefore all of our client solutions are bespoke and are established to ensure the individual requirements of every client are met.
