Which type of Scheme is best for your organisation

Choosing a pension scheme can be complex. Here are some points you should consider:

Whether your employees are with you for a long time, or if you have a relatively high turnover of staff.

What percentage of payroll you can afford to commit, and whether your organisation can cope with increases in costs.
Whether your organisation has sufficient assets to be able to back up the pension promises that are made in a Final Salary or CARE scheme.

Additionally, there are specific circumstances that might suggest one option is better than another. For example:

If your priority as an employer is providing security, coupled with a defined level of benefits, then either a Final Salary Scheme or CARE Scheme is for you.
If you are a small employer with a handful of potential members, then our CARE Scheme offers a cost-effective way to achieve the security and staff flexibility normally only available to large employers.
If you want stability of cost as well as salary-linked benefits then you might want to look more closely at our CARE Scheme.
If cost control is paramount the Money Purchase approach may be the best way forward.
If you are an umbrella organisation, such as a trade body or guild, you might wish to establish a Multi-Employer Scheme that all your members can offer their employees.
If you are trying to attract staff from the public sector, you may find it useful to consider a comparable Final Salary scheme.