Hargreaves Lansdown

Help your employees make more of their money

A Brief Overview of Hargreaves Lansdown's Offerings

HL's workplace savings scheme includes:

• Workplace Pension: A Group Self-Invested Personal Pension (SIPP) that provides employees with a broad selection of investment options, including over 2,500 funds, shares, bonds, and investment trusts. For those who prefer not to make their own investment choices, a low-cost default fund is available.
• Workplace ISA: An Individual Savings Account that allows employees to save tax-efficiently for various financial goals, offering flexibility alongside their pension savings.
• Workplace Fund and Share Account: Enables employees to invest in a wide range of funds and shares, providing additional avenues for building wealth beyond traditional pension contributions.
• Flexible Benefits: A platform that allows employees to select benefits that align with their personal needs, such as dental care, life cover, and other insurance products, enhancing the overall value of the benefits package.

The Main Benefits for Employees

1. Comprehensive Financial Education: HL provides clear, timely information to help employees make informed financial decisions, including access to calculators, planning resources, one-on-one meetings, group presentations, and webinars.
2. User-Friendly Digital Platform: Employees can manage their pension, savings, and benefits through a single, branded website accessible online or via mobile devices, offering convenience and real-time access to their financial information.
3. Investment Flexibility: With a vast array of investment options, employees can tailor their portfolios to match their risk tolerance and financial objectives, promoting a personalised approach to saving and investing.
4. Tax Efficiency: Products like the Workplace ISA and Lifetime ISA offer tax advantages, enabling employees to maximise their savings potential for goals such as home purchases or retirement.
5. Retirement Planning Support: HL's Workplace Retirement Service provides guidance on retirement options, helping employees transition smoothly into retirement with flexible and stress-free solutions.

The Main Benefits for Employers

1. Enhanced Recruitment and Retention: Offering a robust workplace savings scheme makes organisations more attractive to potential hires and helps retain existing talent by demonstrating a commitment to employee financial well-being.
2. Streamlined Administration: HL manages the implementation and ongoing administration of the savings scheme, reducing the burden on HR departments and ensuring compliance with regulatory requirements.
3. Employee Engagement: By providing financial education and flexible benefits, employers can foster a more engaged and financially literate workforce, leading to increased productivity and job satisfaction.
4. Cost-Effective Solutions: The scheme is designed to optimise benefit spend, allowing employers to offer valuable benefits without incurring excessive costs, thereby achieving a balance between employee satisfaction and budget management.
5. Comprehensive Reporting: Employers receive regular updates and legislative insights, enabling them to monitor the effectiveness of the benefits program and make informed decisions about future offerings.

Special Features to Highlight

• Integrated Platform: HL's system combines workplace pensions, savings, and flexible benefits into one cohesive platform, simplifying the user experience and encouraging greater employee participation.
• Mobile Accessibility: The availability of mobile applications allows employees to manage their financial affairs on-the-go, increasing engagement and making it easier to stay informed about their investments.
• Tailored Communications: HL offers customised online and printed materials, as well as expert guides, to effectively communicate the benefits and functionalities of the scheme to employees, enhancing understanding and uptake.
• Financial Wellbeing Programs: Beyond traditional savings products, HL provides financial wellbeing initiatives that support employees in making better financial decisions, contributing to overall life satisfaction and reduced financial stress.
• Independent Governance: An Independent Governance Committee oversees the workplace pension, ensuring that members' interests are protected and that the scheme operates in accordance with best practices.

In summary, Hargreaves Lansdown workplace savings scheme offers a holistic approach to employee financial health, combining a diverse range of investment options with comprehensive educational resources and flexible benefits. This integrated solution not only empowers employees to take control of their financial futures but also provides employers with a valuable tool for enhancing workforce engagement and loyalty.