Cost Auditing Employee Benefits - Facts and Figures

<BODY BGCOLOR="#FFFFCC" LEFTMARGIN="20" TOPMARGIN="20" MARGINWIDTH="20" MARGINHEIGHT="20" TEXT="#000000" LINK="#000080" VLINK="#000080" ALINK="#0000FF"> <P ALIGN="CENTER"><FONT FACE="Arial"><B>Cost Auditing Employee Benefits - Facts & Figures</B></FONT></P> <P ALIGN="LEFT"><FONT FACE="Arial" SIZE="-1">Grosvenor Butterworth can help companies make considerable direct and indirect savings on payroll and employee benefits/pension schemes expenses.</FONT></P> <UL> <LI><FONT FACE="Arial" SIZE="-1">A <B>Cost Reduction</B> of <B>10%</B> for the same pension benefits.</FONT></LI> <LI><FONT FACE="Arial" SIZE="-1">Up to <B>40%</B> cost reduction on Death in Service benefits.</FONT></LI> <LI><FONT FACE="Arial" SIZE="-1">A <B>20%</B> cost reduction on Healthcare benefits, improving the cover provided.</FONT></LI> <LI><FONT FACE="Arial" SIZE="-1">Up to <B>11%</B> cost reduction on investment in the pension scheme.</FONT></LI> <LI><FONT FACE="Arial" SIZE="-1">A <B>Tax saving</B> of <B>30%</B> on lump sum/capital investment in the scheme.</FONT></LI> <LI><FONT FACE="Arial" SIZE="-1"> Substantial cash flow advantages obtained by use of non-cash contributions.</FONT></LI> </UL> <P><FONT FACE="Arial" SIZE="-1">It must be stressed that the above savings are made without undermining the benefits provided by the scheme and can be reflected in a cash amount saved by the company or an increase in benefits to the members without an increase in cost to the company.</FONT></P> <P><FONT FACE="Arial" SIZE="-1"><B>Our Costs and Fees</B><BR>These are arranged by prior negotiation/estimate. However, there may be cases in which we, as the administrators of the scheme, would inherit an element of fees and/or commission. In such cases, the company would pay nothing to us for this service.</FONT></P> <P ALIGN="CENTER"><FONT FACE="Arial" SIZE="-1"><B>How much will your company save while maintaining the same benefits?</B></FONT></P> <P><FONT FACE="Arial" SIZE="-1"><B>Pension</B> <BR>The collection of contribution from both the company and the employee through the payroll is usually an unnecessarily labour intensive job. In addition to the workload, there may be hidden costs associated with the collection process.</FONT></P> <P><FONT FACE="Arial" SIZE="-1">Grosvenor Butterworth have developed systems to allow the collection of premiums to be achieved with minimal involvement from the company payroll staff. In this system, joiners and leavers in the scheme can be dealt with quickly and efficiently. The amounts collected can be checked and balanced at any stage by one member of staff in minutes. Significant sums of money can also be saved by small adjustments to the scheme. Savings of 10% of the total cost can easily be achieved and indirect savings well in excess of this are commonplace.</FONT></P> <P><FONT FACE="Arial" SIZE="-1"><B>Death in Service Benefit</B> <BR>Most companies offer some sort of lump sum payment in the event of the death of an employee. By failing to install this scheme properly, the cost of providing the benefit can be unnecessarily high. We have come across schemes of this type costing the company 40% more than is necessary to provide the benefit.</FONT></P> <P><IMG SRC="kruggerand.gif" ALIGN="RIGHT" WIDTH="200" HEIGHT="160" BORDER="0" ALT="Grosvenor Butterworth can provide many different financial management services, which can become valuable savings and profitable rewards."><FONT FACE="Arial" SIZE="-1"><B>Health Care</B> <BR>Many employers provide medical insurance to their employees. The choice of plan is usually made on name awareness and not value for money grounds. Savings of 15% to 20% on cost are common while possibly improving the cover provided.</FONT></P> <P><FONT FACE="Arial" SIZE="-1"><B>Investment Advice</B> <BR>Many companies have the potential in their pension scheme to act as their own banker. Unfortunately, the insurance salesman, or the traditional broker who sold the policy in the first place rarely has the knowledge or skill to advise on how best to use the facility. Grosvenor Butterworth has a great deal of experience of helping companies and individuals make huge savings on capital projects through this method of finance. Savings of between 9% and 11% of the required sum are easily achieved and with further work, substantial tax savings are also possible.</FONT></P> <P><FONT FACE="Arial" SIZE="-1"><B>Consultation for Directors</B> <BR>This service offers Executives and Directors an opportunity to ask questions privately and obtain advice of a more specific or personal financial nature. With this in mind, Grosvenor Butterworth is able to provide Directors with a wide range of services that enable them to maximise their earnings, reduce the effect of taxation and ensure that Directors nearing retirement are given every opportunity to structure their retirement.</FONT></P> <P><FONT FACE="Arial" SIZE="-1"><B>Counseling to Employees</B> <BR>We provide regular seminars and open forums to company employees on the company benefits package and other financial matters. It is our experience that this is accepted as a further benefit to the employee. This enhances employee morale, reduces the workload of personnel and/or payroll staff and costs the company nothing. We can offer a 'one-to-one' service to employees nearing retirement providing our expertise in helping them to plan their retirement profitably.</FONT></P> <P><FONT FACE="Arial" SIZE="-1"><B>Legislative Matters</B> <BR>Many companies who run employee benefits packages have Directors in a position of legal responsibility. For example, as a trustee of a pension scheme.</FONT></P> <P><FONT FACE="Arial" SIZE="-1">It has been our experience that these Directors have little, if any, understanding of their legal obligations or potential personal liability. With the regular changes forced upon them by EEC legislation, these Directors/Trustees may find themselves held personally liable for breaches of regulation. There is no defence of ignorance in these cases and legal representation and compensation can be hugely expensive.</FONT></P> <P><FONT FACE="Arial" SIZE="-1">Grosvenor Butterworth would provide all the necessary backup and updates to these people and, if required, provide a member of staff to support at trustee meetings.</FONT></P> <TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER"> <TR> <TD> <UL> <LI><FONT FACE="Arial" SIZE="-1"><A HREF="employee_benefits_survey.html">Click here</A> for our FREE Employee Benefits Survey</FONT></LI> <LI><FONT FACE="Arial" SIZE="-1"><A HREF="retirement_planning.html">Click here</A> for Pension/Employee Benefits - Summary of Service</FONT></LI> <LI><FONT FACE="Arial" SIZE="-1"><A HREF="enquiry_form.html">Click here</A> for General Enquiries</FONT></LI> </UL></TD> </TR> </TABLE> <P ALIGN="CENTER"><B><FONT FACE="Arial" SIZE="-1">Please <A HREF="contact_us.html">contact us</A> for further information,<BR>or submit your <A HREF="enquiry_form.html">enquiry</A></FONT></B></P> <TABLE WIDTH="410" BORDER="0" CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER"> <TR VALIGN="MIDDLE"> <TD VALIGN="MIDDLE" ALIGN="CENTER"><IMG SRC="Contact_artwork/phone.gif" WIDTH="59" HEIGHT="58" BORDER="0" ALT="+44 (0)2920-736000"></TD> <TD VALIGN="MIDDLE" ALIGN="CENTER"><A HREF="registration_form.html"><IMG SRC="register-anim.gif" ALT="Register With Us" WIDTH="143" HEIGHT="28" BORDER="0"></A></TD> <TD VALIGN="MIDDLE" ALIGN="CENTER"><IMG SRC="Contact_artwork/fax.gif" WIDTH="71" HEIGHT="56" BORDER="0" ALT="+44 (0)2920-736222"></TD> </TR> <TR VALIGN="MIDDLE"> <TD VALIGN="MIDDLE" ALIGN="CENTER"><FONT FACE="Arial" SIZE="-1"><B>+44 (0)2920-736000</B></FONT></TD> <TD VALIGN="MIDDLE" ALIGN="CENTER"></TD> <TD VALIGN="MIDDLE" ALIGN="CENTER"><FONT FACE="Arial" SIZE="-1"><B>+44 (0)2920-736222</B></FONT></TD> </TR> </TABLE><BR> <TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER"> <TR> <TD VALIGN="MIDDLE" ALIGN="CENTER"> <P><B><FONT FACE="Arial" SIZE="-1">| <A HREF="home.html">Home</A> | <A HREF="site_map.html" TARGET="_top">Site Map</A> | <A HREF="menu-help_and_tools.html">Help & Tools</A> | <A HREF="contact_us.html">Contact Us</A> | <A HREF="frameset-login.html" TARGET="_top">Login</A> |<BR>| <A HREF="menu_corporate.html">Corporate Services</A> | <A HREF="individual.html">Individual Services</A> | <A HREF="frameset-menu-special_services2.html" TARGET="_top">Special Services</A> |</FONT></B></P></TD> </TR> <TR> <TD VALIGN="MIDDLE" ALIGN="CENTER"><HR></TD> </TR> <TR> <TD VALIGN="MIDDLE" ALIGN="CENTER"> <P><B><FONT FACE="Arial" SIZE="-2">| <A HREF="employee_benefits_survey.html">Employee Benefits Survey</A> | <A HREF="enquiry_form.html">Enquiry Form</A> | <A HREF="mailing_list.html">Mailing List</A> | <A HREF="feedback_form.html">Feedback Form</A> | <A HREF="mailto:michelle@grosvenor-butterworth.co.uk">Email Us</A> |</FONT></B></P></TD> </TR> </TABLE><BR> <P ALIGN="CENTER"><FONT FACE="Arial" SIZE="-2">Grosvenor Butterworth is regulated by the Financial Services Authority</FONT><A HREF="copyright.html"><FONT FACE="Arial" SIZE="-2"><BR>© 1997-2000 Grosvenor Butterworth All Rights Reserved<BR> | Legal Disclaimer |</FONT></A></P> <P ALIGN="CENTER"><A HREF="http://www.saqnet.co.uk/scripts/hitcount11a.dll?hide:grosb"><IMG SRC="spacer.gif" WIDTH="200" HEIGHT="50" BORDER="0"></A></P> <TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" ALIGN="center" width="80%"> <TR> <TD>  <SCRIPT TYPE="text/javascript" LANGUAGE="javascript"> s="na";c="na";j="na";f=""+escape(document.referrer) </SCRIPT> <SCRIPT TYPE="text/javascript" LANGUAGE="javascript1.2"> s=screen.width;v=navigator.appName if (v != "Netscape") {c=screen.colorDepth} else {c=screen.pixelDepth} j=navigator.javaEnabled() </SCRIPT> <SCRIPT TYPE="text/javascript" LANGUAGE="javascript"> function pr(n) {document.write(n,"\n");} NS2Ch=0 if (navigator.appName == "Netscape" && navigator.appVersion.charAt(0) == "2") {NS2Ch=1} if (NS2Ch == 0) { r="&size="+s+"&colors="+c+"&referer="+f+"&java="+j+"" pr("<A HREF=\"http://www.TheCounter.com\" TARGET=\"_top\"> " BORDER=0 SRC=\"http://c1.thecounter.com/id=814925"+r+"\" align=left><\/A>")} </SCRIPT> <NOSCRIPT><A HREF="http://www.TheCounter.com" TARGET="_top"><IMG SRC="http://c1.thecounter.com/id=814925" ALT="TC" BORDER=0></A> </NOSCRIPT>  </TD> <TD> <div align="left"><IMG SRC="spacer.gif" WIDTH="8" HEIGHT="1" BORDER="0"> </div> <p align="right"><img src="http://www.saqnet.co.uk/scripts/hitcount11a.dll?hide:grosb" border="0" width="1" height="1"><a href="http://www.dynamicwebs.co.uk/" target="_top"><img src="dw_button.gif" alt="Designed by Dynamic Webs..." width="77" height="34" border="0"></a> <p align="RIGHT"> </TD> </TR> </TABLE> </BODY>