What SME’s Clients Say About Our Help:
“As a growing company, we needed to find a financial advisory partner that would best manage our company pension scheme. We spent a long time looking at the options and we realised that Eolas Money were, by far, the most capable company for our needs. They came in and met with us to get a better understanding of what we needed and what our staff needed. In doing so they gave the management team at Acorn Regulatory peace of mind knowing that our issue was being handled by the experts”. Brian Cleary — Chief Marketing Officer, Acorn Regulatory Consultancy Services Ltd., Clonmel
“Alpha Automation are delighted to have chosen Eolas Money to manage all of our company benefit plans alleviating the administrative burden on us. Eolas provides annual staff clinics providing updates on benefits and the opportunity for staff to ask personal financial queries. We happily recommend Eolas Money”. William Fitzgerald — Operations Director, Alpha Automation & Controls, Cork
“The quality and attention to detail we receive from Eolas Money in relation to our overall employment benefits has been of a very high standard. They now support us with professional services via a transparent fee arrangement. We are delighted to have appointed Eolas as our advisory partner and are happy to recommend them to other SME’s”. Mark Tarleton — Director, Purser Tarleton Russell Ltd.
How can Eolas Money Help Your Company?
Eolas Money understand that companies can have very different requirements, not to mention budgets, when it comes to employee benefits. At the same time, as an employer you understand the importance of looking after your employees and their families, whether it is helping them plan for their retirement or planning for what happens in the event of their death during employment with you.
Following an initial on site consultation with you the employer where we set out the key benefits you should consider and why, and where you tell us what you want for your employees, we then research, recommend, implement and manage all of your employee benefit arrangements, thereby removing the administrative burden for you and your staff while also giving you the peace of mind that you have done the right thing for your employees.
So what does that mean in practice? Company Pension & Protection Plans
- We research the market and talk you through all the options to identify the right plans for your company.
- We oversee the day to day running of your schemes to minimise the administrative burden to you, the employer.
- We hold Annual Review Clinics in your workplace for employees to allow for changes in circumstances, inductions with new employees and to manage queries that will arise.
- To ensure clarity and transparency for each employer, we will provide you with a detailed fee structure for the research, set-up, ongoing administration and annual review of your company pension and protection plans.
The most common Employee Benefits:
1.Company Pension Plans
Company pension plans are pension arrangements which employers can offer to their employees as an employment benefit. Employees accumulate a pension fund via a combination of employer & employee contributions and at retirement, members then convert their accumulated fund into tax free income and ongoing income into retirement. By contributing on behalf of employees to company pension plans, employers are pro-actively helping their employees to plan for their financial futures via contributions which are fully deductible against corporation tax.
2.Death in Service Plans
A company Death-in-Service Plan is life assurance provided by a company to cover all its employees while they are employed by the company. The cost of providing this benefit is fully deductible against corporation tax.
3.Income Protection Plans
A company income protection plan is designed to provide an income for employees if they are unable to work for a prolonged period of time due to illness or injury. Payment from an income protection plan begins once a pre-determined period called the “deferred period” has passed since the onset of the condition leading to the claim. As employees perceive the benefits of an Income Protection Plan as being a very valuable benefit, income protection is therefore a very important benefit when trying to attract or retain employees. The cost of providing this benefit is fully deductible against corporation tax.