MPA Corporate offers your organisation a vast array of corporate financial solutions which can be purchased in customisable packages depending on your requirements. Four main services make up MPA Corporate – group life assurance, income protection, pension schemes and health cover – plus there are many other ancillary services available. Here is a summary of each of these services:
Group life assurance
Group life assurance ensures that an employee’s dependants will be financially cared for should the worst happen. To receive life assurance, an individual needs only be in your employment at the time of their death and benefits consist of a pre-agreed multiple of their salary or a fixed amount. Group life assurance is a relatively low-cost option and is considered an essential part of an employee benefits scheme. The cost is fully tax deductible for the employer and has no tax liabilities for the employee, as it is paid out tax-free.
Group income protection
Group income protection offers employees a financial safety net should they be absent from work for an extended period of time due to sickness or injury. Employees claiming income protection receive a proportion of their salary, typically 50%, which can be used to support themselves and their dependants during this period. Group income protection also benefits employers as it means you do not have to pay wages during the employee’s absence. This may enable temporary cover to be put in place. Premiums are tax deductible as a business expense. With a wealth of experience in this field, MPA are able to find you the providers that offer the best possible service for your requirements.
A group pension scheme is seen as the most valuable benefit by employees and is a useful tool to attract and retain quality staff. Employer premiums are fully tax deductible. MPA would arrange a group pension scheme that fully maximised your employees’ investments, aiming to provide for a financially secure and comfortable retirement. Our advisers would meet your employees on-site to discuss the merits of joining, and administer the scheme on your behalf.
Group healthcare cover
‘Group healthcare cover’ is a blanket term for private medical insurance from NHS cash plans, where employees can receive a limited sum of money towards their annual healthcare, including dental treatment and prescriptions, to comprehensive private medical benefits and even worldwide travel insurance.
Employees perceive healthcare as a significant benefit, second to pensions, particularly when it also covers their dependants. For this reason, choosing to provide group healthcare cover can increase loyalty and staff morale. Premiums are tax-deductible for employers. MPA will source the most comprehensive and best value schemes on the market.
MPA offers a variety of other specialised services which can be added to your MPA Corporate services package including share Protection and Partnership Assurance, business protection for key persons, commercial mortgages, company investments using offshore bonds and harmonising benefits.
MPA is one of the few independent financial service firms to have a dedicated employee benefits team. This team will conduct regular visits to your site for “Employee Surgeries”, or staff consultations, that ensure each employee understands their benefits and has access to an expert who can answer their questions.