11 | Finance Awards 2020 Workplace pensions are a key employee benefit, but UK businesses have struggled to get the best out of their investment, and often face challenges being sure they are fully compliant with the legislation. Husky has helped over 1,000 UK firms choose, set up and run a fully compliant workplace pension, with tools to drive engagement and ensure better outcomes for their employees. Since the introduction of the UK’s Automatic Enrolment (AE) legislation in 2012, Husky has been helping businesses choose, set up and run fully compliant workplace pensions. Building on a deep understanding of the legislation and working closely with The Pensions Regulator (TPR), Husky has developed a suite of tools and services to help firms get compliant and stay compliant. Many business owners may be concerned about the risk that their workplace pension isn’t compliant. But often it is the Regulator that brings compliance problems to light, with firms facing steep fines and escalating penalties for not getting things right. Husky has helped hundreds of businesses with such issues and has frequently been able to get fines reversed as part of our work bringing businesses into compliance. Workplace pensions aren’t just about compliance, though. An employer-sponsored pension scheme is a valuable workplace benefit, but employees are rarely aware of the value of this benefit. As part of its core service, Husky provides a mobile app for employees that demonstrates the savings they are receiving courtesy of their employer and the taxman and explains how to take advantage of savings opportunities. A valuable part of Husky’s product is a comprehensive Salary Exchange service. This enables employers to offer Salary Exchange (also known as Salary Sacrifice) to their employees without the overheads that are typically involved (for example, engaging an Independent Financial Adviser). The product takes care of all the necessary calculations for payroll and provides all the supporting documentation, including frequently asked questions, scheme rules and side letters, allowing staff to be enrolled in a few clicks. When it comes to selecting a workplace pension, employers are often in the dark, and many default Best Workplace Pension Compliance Solution 2020 to the government-supported NEST scheme. NEST is a sound choice for some employers but may be less suitable for others, depending on the size of the firm and the profile of employee salaries. Husky provides a guided scheme selection tool that helps firms to find a scheme that is suited to their needs and the needs of their staff. Husky then sets up the scheme on behalf of the business and liaises with payroll to enable contributions flow correctly. Once the scheme is in place, Husky’s real-time assessment engine ensures that all staff are correctly enrolled and that they receive the right level of pension contributions. Individuals are increasingly interested in how their money is being invested, so Husky now provides responsible investment scores for their pension, showing how it stacks up against other pension schemes in the marketplace. The Husky mobile app is also independent of employer, so employees can take their workplace pension data with them when they change employer. Husky takes the guesswork out of workplace pensions. Using Husky, business owners can be sure they’ve made a good choice of pension for their staff and can relax knowing it is being operated and administered in an efficient and compliant way. With the Husky mobile app, employees can learn about their workplace pension and can take advantage of Salary Exchange, getting more in their take-home and potentially more in the long run. Company: Husky Contact: Kay Burnett Telephone: +44 (0)207 582 7875 Website: https://huskyfinance.com/employers Nov20639
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