CALL US NOW
0131 225 8282
The main purpose of Life Assurance is to provide money for those people who may depend on you financially, in the event that something should happen to you. These people could include family members or business partners.
It can provide the reassurance of financial protection for you, your family and your business associates.
Health Insurance is probably one of the most important types of insurance you can own. Without it, an illness or accident can have serious financial implications for you and your family.
Most people will be aware that Health Insurance can cover the cost of private medical treatment for any acute conditions you may suffer in the future. However, there are a number of other types of Health-related Insurance policies.
When you retire you still need food and shelter as an absolute minimum, but of course you will want to maintain the lifestyle to which you have become accustomed, so unless you can guarantee a large windfall, you need to provide yourself with a secure income for the rest of your life.
A well prepared pension plan which is regularly reviewed should go some way to providing this.
When someone talks about savings and saving money, it could be referring to a piggy bank or a high interest deposit account. Savings are effectively cash or cash instruments, such as deposit accounts, term bonds etc.
Investing is what you do with the savings you have - if you are looking to generate a greater return on your money than is available to you through your savings instruments.
Most of us face being taxed on our income, our capital gains, and in some circumstances the value of our estate when we die.
Taxation can be very complicated and the rules, reliefs and allowances often change, so it is worth obtaining a clear grasp of how these taxes work by discussing with a professional adviser the most efficient way to arrange your finances. An expert will be able to help you plan your taxes in advance ...
Wealth, just like your health, must be carefully preserved. Your assets need to be protected against the potential threats of erosion by taxation, the effects of inflation & investment risks.
Whatever your level of wealth, there is nothing wrong in deciding to prepare a risk aversion strategy. This is reasonable and prudent for anyone who is sure that they already have ample to provide for themselves and their family into the future.
NEST — a defined contribution workplace pension scheme — was set up by the UK government to facilitate auto enrolment. As a ‘qualifying’ scheme, NEST can be used by any and all UK employers to make pension contributions.
Workers earning more each year than the government determined lower level, will be enrolled automatically in NEST if the employer doesn't have their own pension scheme. Lower earners can join, but must choose to opt in.
Members can transfer other Defined Contribution pensions they may have into their Nest scheme, should they wish, and are also free to transfer out to another pension scheme, providing they have stopped making contributions into the NEST account.
Although Auto Enrolment is compulsory, membership of NEST isn’t. NEST is, by design, a very simple scheme offering very few ‘bells and whistles’. Employers with more sophisticated requirements are free to consider establishing other types of workplace/occupational pension schemes.
1. Which type of scheme are you offering your staff?
Look at the advantages and disadvantages of other employer pension schemes when compared with the NEST scheme. Once you have analysed this, you can then decide which is more suitable for your organisation. A combination of two schemes may be the most appropriate approach initially, with staff eligibility for different schemes contributing to the solution; e.g. senior and employed staff being enrolled into an occupational scheme and contract staff being enrolled in NEST.
2. Work on your budgets
Currently employers have to contribute 3% of every employees’ ‘qualifying earnings’ to their occupational pension scheme, which will have a considerable impact on the costs of the business. If you offer a higher contribution rate, plan for the cost and long term implications of enrolling all staff on this basis. Look at whether you are making contributions on the full salary amount or band earnings. The key is to budget for these newly introduced measures, so that larger pension contributions do not make a sudden impact on costs. Employers may consider reviewing their total remuneration package in order to absorb these extra costs and looking at methods such as salary sacrifice as a cost-effective way of increasing pension contributions.
3. Review your current systems to make sure they can cope with the additional administration.
Can your payroll and HR systems cope with any extra administration? This is particularly relevant for any organisations that run both an occupational pension scheme and enrol some staff into the NEST system.
4. Effectively communicate these changes to your staff
Consider how you are communicating these changes to your staff. It is important to try and engage employees with their pension and get them to ‘buy-in’ to your company scheme. A pension scheme is viewed by many employees as an essential part of their benefits package, and when offered as part of the overall remuneration, can add tremendous perceived value to an organisation and the way it views its employees.
Organisations that provide pension schemes above the standard laid out by the government are likely to be a more attractive proposition for new and existing employees and demonstrate a commitment to their workforce.
Employers which offer schemes with contribution rates above the statutory minimum may be interested in applying for a pension quality mark to differentiate their scheme from others. (www.pensionqualitymark.org.uk)
Please contact us for further information and advice.
NEST IS REGULATED BY THE PENSIONS REGULATOR
A PENSION IS A LONG TERM INVESTMENT, THE FUND VALUE MAY FLUCTUATE AND CAN GO DOWN. YOUR EVENTUAL INCOME MAY DEPEND UPON THE SIZE OF THE FUND AT RETIREMENT, FUTURE INTEREST RATES AND TAX LEGISLATION.
INFORMATION IS BASED ON OUR CURRENT UNDERSTANDING OF TAXATION LEGISLATION AND REGULATIONS. ANY LEVELS AND BASES OF, AND RELIEFS FROM TAXATION, ARE SUBJECT TO CHANGE.
AUTO ENROLMENT ADVICE IS NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY
Currencies
Value | Move | % |
GBP/EUR | ||
1.0882 | +0.0001 ![]() |
+0.01% ![]() |
GBP/NOK | ||
10.9028 | -0.0012 ![]() |
-0.01% ![]() |
GBP/SEK | ||
11.6499 | -0.0035 ![]() |
-0.03% ![]() |
GBP/USD | ||
1.2092 | 0 ![]() |
0% ![]() |
Stocks
Value | Move | % |
FTSE 100 | ||
7353.4399 | +79.9697 ![]() |
+1.1% ![]() |
FTSE 250 | ||
21507.7891 | +714.7598 ![]() |
+3.44% ![]() |
FTSE 350 | ||
4148.9702 | +61.5002 ![]() |
+1.5% ![]() |
FTSE All Shares | ||
4095.0300 | +61.6201 ![]() |
+1.53% ![]() |
Dow Jones | ||
28135.3809 | +11.7813 ![]() |
+0.04% ![]() |
Nasdaq | ||
7158.0000 | -250 ![]() |
-3.37% ![]() |
THE GUIDANCE PROVIDED WITHIN THIS WEBSITE IS SUBJECT TO THE UK REGULATORY REGIME AND IS THEREFORE PRIMARILY TARGETED AT CONSUMERS BASED IN THE UK.
CRANDLES & CO LLP IS AN APPOINTED REPRESENTATIVE OF TENETCONNECT LTD WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY. TENETCONNECT LTD IS ENTERED ON THE FINANCIAL SERVICES REGISTER (www.fca.org.uk/register) UNDER REFERENCE 149826.
REGISTERED OFFICE: 13 GLENBERVIE ROAD, KIRKCALDY, KY2 6HR
REGISTERED IN EDINBURGH UNDER REFERENCE: SO303331
CRANDLES AND CO LLP IS A LIMITED LIABILITY PARTNERSHIP
Client Testimonials
Crandles & Co fully implemented our Company Pension Scheme at Scottish Cycling in 2012. Our staff found the appointments and communication extremely professional. The pension scheme requires constant management and the administration service provided is also superb. From implementation to the end result I would have no hesitation in recommending Paul and Caroline to other companies and sports associations looking to implement pension schemes to satisfy the new Workplace Pensions regulations ahead.
I’ve been providing Mortgage advice to my clients for several years now and over time, it became apparent that many of them would benefit from independent financial advice too. I was recommended Caroline Cochrane. I trust Caroline to look after my clients’ best interests and I am confident she’s really listening to what they want. I also find Crandles & Co are efficient in their work practices and they always keep me informed about what they’re doing. This has created a good business relationship between us, to the extent that I’m happy to refer my family members to them.
It is over 25 years since Caroline first advised me on financial matters. Her professionalism has been of the highest calibre, as she has always endeavoured to provide sound and appropriate advice relevant to my circumstances at the time. I have no hesitation in discussing all financial decisions with Caroline and am happy to be guided by her, trusting not only in her expert knowledge, but also in her dedication to providing the best possible service for me, as her client.
Paul Crandles has been my Financial Adviser for over 4 years. In that time I have come to trust Crandles & Co implicitly. Any questions I have regarding my investments are answered and explained in depth and Paul never fails to make time in which to do this. I cannot imagine going elsewhere and am more than satisfied with the investments made on my behalf by Crandles & Co. The company is truly professional, always accessible and has very high standards of conduct. I have no qualms whatsoever in highly recommending them for any investment or financial advice. I am an Extremely Satisfied Client.
Paul and Caroline are consummate professionals who I count on to give my clients financial and investment advice tailored to their individual circumstances and needs. They are approachable, honest and ensure that my clients are kept in the picture every step of the way. I have no hesitations recommending Paul and Caroline to clients, colleagues and even, recently, family. A friendly, caring Company that put clients first and deliver on their promises.
Contact Us
Crandles & Co LLP
Old Coates House
32 Manor Place
Edinburgh
EH3 7EB
T: 0131 225 8282
Email : Email Us