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Help our staff to plan their finances

Medium term pre-retirement course

Following the successful pre-retirement courses that the Service ran in January 2016, we decided to run further courses aimed at staff retiring in the next five to ten years. This course has been provided as a result of feedback received from delegates on the January courses. The delegates commented that, giving serious consideration to their financial affairs in retirement, would have been more useful if it was offered at an earlier stage, rather than within one to two years of retirement.

 

Pre-retirement course

Courses for staff who are due to retire in the next 1-2 years will continue to be run too, and with the recent addition of the medium term course we now have enhanced planning options for employees.

Employee assistance programme

The PAM Assist advisors will always answer your call in a discreet and professional manner and are available to discuss any personal or work related issues. They are available 24 hours per day, 365 days a year and can assist in matters such as:

  • Family matters
  • Debt advice
  • Relationships
  • Benefits and tax credits
  • Health advice

 

Staff benefits

A staff benefits framework will offer access to a range of benefit services that help to reward employees, covering a number of salary sacrifice schemes and voluntary benefits. Operating salary sacrifice schemes allow employers to make savings on national insurance contributions, helping staff to make their wages go further each month.

 

Salary sacrifice

A salary sacrifice refers to an employee agreeing to give up the right to receive a portion of their salary. This is used to provide a benefit for the employee, which is typically free of tax and national insurance, thus saving money. Salary sacrifices could include:

  • Childcare vouchers
  • Cycle to work
  • Qualifications
  • Work place training
  • Mobile and IT purchasing schemes

 

Voluntary benefits

Voluntary benefit schemes compromise of a selection of products or services which are made available through an employer, but are paid for by staff out of their own taxed income. These products and services are typically offered at a discounted price, which enables employers to provide a wide range of perks at a relatively low cost. Voluntary benefits could include:

  • Dental plans
  • Healthcare insurance
  • High-street and retail discounts
  • Cinema and theatre discounts
  • Holiday and travel discounts
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