“A competitive Employee Benefit Program is key for recruitment and retention of quality employees”
Atwood Benefits UK Ltd (formerly F&L Financial Services Ltd) have been operating since 2005 and specialise in the provision of compliant Workplace Pension and Employee Benefit Programs. We work with both UK and international businesses looking to outsource their Employee Benefits function and provides direct corporate and employee support as required.
Atwood Benefits UK Ltd is authorised and regulated by the Financial Conduct Authority (FCA) and operate on a ‘whole of market’ basis. This allows us to research the entire market on behalf of our corporate clients before making recommendation for the most suitable, compliant and cost-effective Pension and Benefits Program for their employees.
A significant number of our clients are headquartered overseas (with many in North America) and we are typically tasked with reviewing their domestic benefits in order the UK program can be themed in line but adapted where necessary to meet local expectation and requirements.
We manage all aspects of the Employee Benefits cycle from design, through implementation, monthly administration and annual review by always being the first point of contact for the employer and at the same time providing a ‘real time’ solution for the UK employees.
Atwood Benefits UK Ltd is proud to support Communigrow and BTRC (Brain Tumour Research Campaign).
Communigrow is an educational charity using horticulture to reconnect people with where their food comes from. They offer practical experience and teaching to young people and adults including those with special needs and who face complex challenges in their lives. For more information please click here.
BTRC is a charity bringing together expert clinicians and research scientists with brain tumour patients and their family and friends to fight this devastating disease; for more information please click here.
International and UK companies need to consider what is appropriate locally, taking into account both employee and market expectations along with legislative requirements. Not all industries have the same expectations or requirements.
When making recommendation for international businesses we always consider the domestic program of the parent company and then theme the UK plan with this in mind but taking into account what is customary (and required) in the UK.
In summary, we effectively become our corporate clients’ outsourced Employee Benefits Department.
Research and recommendation
We carry out a full market review, negotiate terms with the UK providers and present our recommendations with a detailed analysis.
Design and implementation
As part of our service we prepare the Employee Benefit guides, how to claim guides and FAQ for the Workplace Pension as appropriate. We work with both our corporate clients and their employees in communicating the benefits available to them and then manage/oversee the providers in implementing the various plans.
It is a legal requirement in the UK to automatically enrol all eligible employees into a Workplace Pension. There are set contribution rates and these are determined by the pensionable salary definition (there are four definitions). We will research options and make recommendation for a compliant and competitive Workplace Pension. We manage the monthly processes, uploads and contribution schedules.
Workplace Pensions are overseen by The Pensions Regulator (TPR) and we can act as secondary point of contact (the primary contact needs to be an employee/officer of the company providing the pension for their employees). We will manage the initial and future compliance requirements including declaration of compliance, re-enrolment and certificate if required.
Life Assurance/Death in Service
Many UK companies provide their employees with life assurance cover, normally as a multiple of salary at 4x albeit plans can be provided from 1x salary upwards or at a fixed sum assured. The plan should be written under trust to ensure tax efficiency.
Short Term Disability
This is income protection and provides a percentage of salary if an employee is unable to work due to accident or illness following a specified period of absence. 60% or 66% of salary are common definitions and payment normally runs for 13 or 26 weeks.
Long Term Disability
This is income protection and provides a percentage of salary if an employee is unable to work due to accident or illness following a specified period of absence. 60% or 66% of salary are common definitions and payment normally runs until retirement age if the employee cannot work again (or for a specified term).
Employee Assistance Program
Provides a confidential counselling and helpline service along with mental health and wellbeing support. Often made available as part of the Long Term Disability benefit.
Critical illness pays out a lump sum on diagnosis of an eligible condition/illness, normally set as a multiple of salary around 1x or 2x or as a fixed sum assured as with the life assurance.
Private Medical Insurance
Private medical insurance supplements but does not replace the National Health Service (NHS), in speeding up consultation, diagnosis and treatment of potential conditions.
It is now very difficult to register with an NHS dentist and so dental insurance allows an employee to use any dentist (and often on a worldwide basis) with support being provided up to set monetary amounts.
We encourage all our corporate clients to pay for annual eyesight test and either pay or make a contribution towards the provision of lenses if required as a consequence of an employee’s daily work routine. This then complies with typical health and safety practice. For smaller groups, a direct payment is appropriate but for companies with 10-15+ employees a voucher program makes more economic sense.
It is important for all employees required to travel outside the UK on company business to be provided with insurance to support their medical needs if taken ill and that allows support for flight cancellations, loss of luggage etc.
Cycle to Work
A salary sacrifice (tax efficient) benefit allowing an employee to purchase a bicycle and associated equipment up to a set amount and to pay back via payroll but without having to pay income tax or national insurance. Also tax beneficial for the employer.
Tim trained with Scottish Life Assurance Company and has considerable experience having worked in Employee Benefits since 1993. He has worked in the City of London and previously was Director of F&L Financial Services Ltd from 2005 specialising in the design, implementation and ongoing administration of Workplace Pension and Employee Benefit Programs. Tim has developed business in a number of countries, particularly North America, where he visits regularly and works closely with both US, Canadian and UK Government agencies assisting with their education and understanding of the UK market.
+44 (0)7835 139780
Employee Benefits Manager
Lynne started work in the Financial Services industry in 1987 with Chelsea Building Society then Skipton Building Society before moving into the Employee Benefits world in 2002 with Belmont Insurance Brokers (where she joined Tim). Lynne joined F&L Financial Services Ltd (now Atwood Benefits) in 2005 and works closely with our corporate clients in Employee Benefit Program design, implementation and overseeing the monthly processes and compliance requirements.
+44 (0)7872 637090
Matt trained with HSBC and worked with them for 23 years specialising in the provision of Employee Benefit and Workplace Pension solutions to their corporate clients. Matt joined F&L Financial Services Ltd (now Atwood Benefits) in 2013 and manages a portfolio of corporate clients ensuring their employees are set up with the relevant benefits suiting their personal circumstances.
In addition, Matt oversees the annual benefits review for his corporate clients, making recommendation for what is appropriate from a cost and industry perspective i.e. tailoring solutions to meet client need.
+44 (0)7876 860349
Vanessa has worked in the Financial Services industry for over 20 years specialising in Employee Benefits since 2002. Vanessa joined F&L Financial Services Ltd (now Atwood Benefits) in 2014 and manages a portfolio of corporate clients ensuring their employees are set up with the relevant benefits suiting their personal circumstances.
Similar to Matt, Vanessa oversees the annual benefits review, making recommendation for what is appropriate from a cost and industry perspective i.e. tailoring solutions to meet client need.
+44 (0)7867 456470