For most businesses, the human assets are more important than the physical ones. But what if you or one of your team suffers a serious illness, or are too ill or disabled to work over the medium to long term? What arrangements are in place to help them financially and, if possible, speed their return to the workplace?
As you may know, there are schemes available that pay out a lump sum to accelerate recovery from the financial and emotional trauma of serious illness and a regular income to replace the salary of someone not fit enough to work over the longer term.
The cost of protecting your people and their families against the financial consequences of serious illness and death is probably much lower than you would expect: only a small proportion of total payroll costs and helps to confirm that you are an employer who cares.
The value of a pension will be directly related to performance of the funds selected, and will fall as well as rise. You may get back less than the amount invested.
The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax reliefs depends on individual circumstances.