A fit-for-purpose package
Having a benefits package in place is a good starting point, but is it fit for purpose? Does it suit the demographic of your workforce? A single 25 year old might be less interested in life assurance than a 40 year old with a young family. However, the idea of an income protection policy might appeal to them. Simply put, income protection is a policy insuring a portion of the employees’ income, so they will be covered in the event of a loss of earnings due to illness or injury.
Once an employee joins your company the onboarding experience often focuses on the tasks at hand (quite rightly). But it does help to highlight the benefits of pension and cover as a reminder of the excellent benefits package they receive through their employment with your company. This is an educational piece that CPAS offers for Members – both onsite and virtually. To find out more, please get in touch with us via email (info@cpas.ie).
When it comes to cover and pensions, our team of consultants and financial advisers are on hand to help. We can help you and your team navigate through the multiple options available and highlight the existing benefits to saving for retirement – such as tax breaks. Tax breaks are available to employees making pension contributions (e.g. Additional Voluntary Contributions), but they are also available for companies. Employer contributions receive corporation tax relief as they are offset against profits before tax. Furthermore, the costs associated with setting up a pension scheme can be onerous for even the largest of organisations but joining Schemes such as CERS and CWPS (administered by CPAS), ensures optimal coverage at a low cost to both employer and employee.
CPAS – The pension provider for the construction sector
Planning for the future
As in life, there are many variables and changes. Planning for retirement and protecting your financial future involves forming expectations about income and expenses over the rest of your life, based on present assumptions. As the pension administrator for pension schemes in the construction industry, we have a range of solutions to help you prepare and protect your future investments. Whether you are self-employed, running a large company with multiple staff requirements, looking for life and income protection, we can help.
For more information and to find the right solution for you, contact our team for a no obligation discussion. Our team of financial specialists will put you in touch with the right team member. No obligations, no hidden fees, no jargon – just a straight forward chat to help you secure your present and your future.
Contact us via email (info@cpas.ie) or by phone (01) 223 4949