Business Advice Services with Digby Associates
We support your venture at every stage, from early growth to more established businesses. Whether you’re looking at protection, pensions or longer-term planning, we’ll help you make decisions that feel right for you and your people. Explore our business services below.
Group Pensions
We help businesses put effective pension arrangements in place that support their people now and in the future. A group pension can provide a straightforward, tax-efficient way to help employees save for later life, while giving your business a valuable workplace benefit.
What This Helps With
We help you support your employees’ long-term financial wellbeing, meet workplace pension responsibilities, and offer a benefit that can strengthen retention and engagement.
Why This Matters
Workplace pensions are one of the most valuable benefits many employees receive, yet they can often feel complex or easy to overlook. Putting the right arrangement in place can help your team feel more confident about planning for the future and clearer about the value of the support available to them.
For your business, it is about having a scheme that is well managed, easy to understand and aligned to the needs of your workforce.
How We Can Support You
We can help you review, implement and manage a suitable group pension arrangement, ensuring it works well for your business and provides meaningful support for your employees.
Group Pensions FAQs
Is it mandatory for employers to offer a pension scheme?
Yes, under auto-enrolment regulations, employers must provide a qualifying workplace pension scheme and automatically enrol eligible employees.
What contributions are required from employers and employees?
Minimum contribution levels are set by law, with employers and employees each required to contribute a percentage of qualifying earnings.
Can employees opt out of the pension scheme?
Yes, employees can choose to opt out after being enrolled, but employers must re-enrol them periodically, typically every three years.
What are the tax benefits of group pension schemes?
Contributions are usually tax-deductible for employers, and employees receive tax relief on their contributions, enhancing the overall benefit.
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Group Death In Service
We help employers put valuable protection in place for the people who matter most to their team. Group death in service can provide a lump sum payment to an employee’s beneficiaries if they pass away while employed, helping to offer financial support at a difficult time.
What This Helps With
We can help you provide an important employee benefit, support staff wellbeing, and strengthen your overall benefits package in a practical and cost-effective way.
Why This Matters
Benefits that protect employees and their families can make a real difference when they are needed most. Group death in service cover can provide reassurance that support is in place, while showing employees that their wellbeing is valued.
For your business, it is a practical way to enhance your benefits offering and support attraction, retention and employee confidence.
How We Can Support You
We can help you review, arrange and manage suitable cover for your workforce, making the process straightforward and ensuring the arrangement works well for your business and your employees.
Group Death In Service FAQs
How is the benefit in a group death in service policy determined?
Typically, the payout is a multiple of the employee’s annual salary, such as two to four times their earnings.
Is group death in service benefit taxable?
The payout is usually tax-free for the beneficiaries, but it’s essential to structure the policy correctly, often using a discretionary trust.
Who is eligible for group death in service benefit?
Eligibility criteria are set by the employer and may include all employees or specific groups, such as full-time staff or those with a certain tenure.
Can employees have multiple death in service benefits?
Yes, if they have multiple employments offering such benefits, but each policy’s terms should be reviewed to understand coverage limits.
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If you have any questions regarding wealth management at Digby Associates please get in touch with our team of qualified financial advisers for a no obligation chat.
Group Income Protection
We help businesses create a stronger support framework for their employees. Group income protection can provide financial support if an employee is unable to work due to illness or injury, helping to offer greater stability during challenging periods.
What This Helps With
We help you support employees during periods of ill health, reduce the impact of long-term absence, and provide a valuable benefit that contributes to wellbeing and retention.
Why This Matters
Extended absence can be challenging for both employees and employers. Having appropriate support in place can help reduce financial pressure for employees, allowing them to focus on recovery, while giving employers a structured way to manage longer-term absence.
For your business, it is a practical way to support your people, strengthen your benefits package and help maintain continuity.
How We Can Support You
We can help you review the available options and arrange suitable cover for your workforce, ensuring it supports your employees and aligns with the needs of your business.
Group Income Protection FAQs
How does group income protection benefit employers?
It supports employee well-being, aids in retention, and can reduce costs associated with long-term absences.
What percentage of salary is typically covered by group income protection?
Policies often cover between 50% to 75% of the employee’s gross salary.
When do payments under a group income protection scheme begin and how long do they last?
Payments usually begin after a deferred period, such as 26 weeks of absence, and can continue until the employee returns to work, reaches retirement age, or for a fixed period.
Are there exclusions to coverage within a group income protection policy?
Common exclusions include pre-existing conditions, self-inflicted injuries, and disabilities arising from criminal activities.
Shareholder Protection
We help business owners plan ahead for unexpected circumstances with clarity and confidence. Shareholder protection can provide funds to help purchase shares if a shareholder dies or becomes seriously ill, helping to support business continuity and future stability.
What This Helps With
We help you maintain control within the business, provide financial clarity for shareholders and their families, and put arrangements in place that can reduce uncertainty or disruption.
Why This Matters
Unexpected events can create difficult decisions for both a business and the people connected to it. Without appropriate planning, shares may pass in a way that does not reflect the intentions of the remaining shareholders or the wider needs of the business.
Putting suitable arrangements in place can help create clarity and fairness for those involved, while supporting the longer-term stability of the business.
How We Can Support You
We can help you review the available options and put an appropriate plan in place, helping ownership to be transferred smoothly and supporting continuity if circumstances change.
Shareholder Protection FAQs
How is the cover amount in shareholder protection determined?
The amount typically reflects the value of each shareholder’s stake in the business, often determined by a professional valuation.
What are the funding options for purchasing shares?
Funding can come from life insurance policies taken out on each shareholder, with the proceeds used to buy the shares.
How are premiums structured?
Premiums are usually based on factors like the shareholder’s age, health, and the amount of coverage required.
Let's start a conversation ...
If you have any questions regarding wealth management at Digby Associates please get in touch with our team of qualified financial advisers for a no obligation chat.