Penseo has got a comprehensive solution for organisations looking to set up and administer a company pension scheme.
Details about Penseo
The principle at the root of company pension schemes might be simple enough, but the system for helping employees to save for their retirements is highly complex – which is why only 25% of those enrolled on a company pensions understand how they work. Businesses, too, have trouble with their pension schemes, as anyone who has ever worked in HR will tell you. Fintech start-up Penseo has the solution: it’s a platform which allows companies to set up new contracts and manage existing ones.
In the background, Penseo takes care of the actual employee pension schemes, allowing users to deal with of things which used to be time-consuming in just a few easy steps. Companies who take part are more attractive to potential employees, have legal clarity regarding their arrangements, and save time and expense; staff benefit from tax breaks and good conditions as their money is invested to keep pace with today’s market. What is more, the Penseo solution offers a high degree of transparency and existing contracts can be transferred to new employers if required. In other words, the platform turns company pension schemes into a win-win.