A Modern New GPP

S.Lucas

Founded in 1971, S Lucas is a family owned and run business which combines the best of the traditional values of quality and reliability with the latest technology. As a result they are recognised as one of the most efficient companies in the construction business.

In mid 2009 Managing Director Danny Lucas, wishing to improve the benefits offered to the staff, made the decision to investigate setting up a pension scheme.

”I felt acutely aware that the success of the Company was in no short measure down to the people round me, and I wanted to give them something back to reward them” says Danny. “And I wanted to do it before any pending legislation forced me into something where I might need to compromise on what I wanted to offer my staff”

His investigations led to discussions with Creative Benefits (Creative) who impressed him with their suggestions and with their professionalism.

A Group Personal Pension scheme with 3% contributions from the company matching the employees 3% contributions was proposed, with the added advantage of Salary Exchange helping to boost the individual members pension savings by approximately 30%.

s a result Creative was appointed and the task of implementing a new scheme and enrolling the staff commenced. One of the key areas at the start was for Creative to run group presentations to the employees explaining exactly what was involved and describing the benefits of joining the scheme.

Due to the varied locations of many of the staff this created a minor problem, but one that was overcome with the help of the scheme provider, Scottish Widows. Creative persuaded them to make meeting rooms at their offices in London available for the presentations and the resulting and necessary one to one meetings. All were successfully completed over a short period of time.

Apart from the technical aspects of setting up a new scheme the communication process in explaining it is vital to the scheme’s success. Creative pride themselves in their ability to explain the benefits of a proposed scheme in simple terms, often to people whose knowledge of pensions is minimal. “I was very impressed with Creative’s communications skills in talking to my staff” says Danny Lucas “ It was so good that just about 80% joined up there and then, with the majority of the remainder following soon after”

Creative were also able to offer individuals, including Danny, advice on personal protection issues through their Individual Wealth
Management service.

The combination of technical know how, industry experience, understanding of a client’s needs and a well run communication process all contributed to a successfully implemented scheme.

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