Torquil Clark Employee Benefits Secures Major Contract with Automotive Firm
May 19th, 2008
Torquil Clark Employee Benefits has secured a major contract with Hampson Precision Automotive, to provide corporate pensions and benefits advice to their 300 employees.
The move by Hampson Precision Automotive to appoint Torquil Clark as consultants is a direct result of the parent company Hampson Group using the expertise of Torquil Clark Employee Benefits for over ten years.
Hampson Precision Automotive is a specialist manufacturer of highly engineered components and assemblies, requiring the tightest dimensional tolerances for a range of demanding automotive and specialist engineering applications, predominantly turbochargers and fuel injection.
Torquil Clark is now working with their employees to ensure they are maximising the amount being invested into their pension income. This is being achieved by moving the group’s pension into a more cost effective scheme, without incurring any additional cost to management. They are also ensuring that all staff take up the offer of additional contributions from Hampson as part of their salary contract, as many were letting this money slip through their fingers.
The key benefit to Hampson is that the new arrangements remove the responsibility of pension bureaucracy from the employer, saving them both time and money.
Nigel Murdock, Managing Director of Torquil Clark Employee Benefits said: “Hampson Precision Automotive wanted to ensure their employees were getting the best possible investment from their pension. The scheme originally in place was out dated and not cost effective.
“Pensions can be complicated and wrapped up in technicalities and regulation. As experts in this field, our advisers are able to smoothly transfer the pension schemes into more cost effective vehicles and communicate the changes to staff at every step along the way. Moving a large pension scheme takes time, however we are able to lift this responsibility from employer and return it back to their hands once all the changes have been implemented.
Ian Emery Divisional Chief Financial Officer of Hampson Precision Automotive said: “We appointed Torquil Clark Employee Benefits with full confidence as they came with excellent references from our Group company.
We are not just dealing with pension paperwork here, we are dealing with the retirement income of our hard working employees. It is our responsibility as their employer to make sure their retirement savings are in the right savings vehicle, to do this we needed to take expert advice. We are delighted to have Torquil Clark Employee Benefits on board to manage this.”
For more information about Torquil Clark Employee Benefits and the service we provide call us on 01902 576707.
Author: Jenny Challenor
May 19th, 2008
Category: Employee Benefits.
