Hertfordshire County Council
Hertfordshire County Council began working with AVC Wise in September 2018. Our fully managed solution has helped facilitate the introduction of a salary sacrifice Shared Cost Additional Voluntary Contribution (Shared Cost AVC) scheme. As a result, they have saved £19,616 in National Insurance Contributions over the past six months.
Here's what Senior HR Officer, Rachel Wilson, has had to say about their experience so far...
Introducing Shared Cost AVCs to our employee reward offer has not only given our staff access to a new and valuable staff benefit, we've also made substantial savings on NI costs of £19,616 in the 6 months since introducing the scheme in September 2018.
As an organisation we have seen a 736% increase in employees making Additional Voluntary Contributions since introducing the Shared Cost method.
Since launching the scheme in September 2018, we have already had 10 AVC Wise presentations at our various offices. These have been well received by staff, with a regularly large attendance across several of our office locations. Staff have fed back that the information presented by the team was easy to understand, and that the sessions offered a good chance to ask questions of the AVC Wise team.
The presentations have been the most successful method of engaging employees and encouraging sign up to the scheme.
The admin assistance received from AVC Wise since introducing the scheme has ensured that the transition to Shared Cost AVCs has been smooth for our in-house teams. The easy to use platform meant managing applications was simple for us, and all employee queries were managed on our behalf.
With support offered to the HR and payroll staff, AVC Wise have managed the process to take the burden off our already busy teams. They have dealt with any issues in a timely and efficient manner.
The dedicated Implementation Manager made the set-up stage easy, and the dedicated Account Manager continues to be there to support us.
The success and effectiveness of the marketing support received so far is evident in both the presentation attendee numbers and the resulting conversion to signing up to the Shared Cost AVC scheme.
We would not have the resource or budget to do this work ourselves. It is evident AVC Wise have a tried and tested approach and helped us maximise our communication with our staff. At launch, we were fully briefed by a Marketing Manager on the AVC Wise comms plan, and a dedicated Account Manager is now in regular contact after the launch period. AVC Wise offer a variety of marketing materials to support the continuing promotion of the scheme. This is proving to be very successful in keeping the momentum moving forwards with the Shared Cost AVC scheme.
In just 4 months after introducing Shared Cost AVCs facilitated by AVC Wise, our organisation saw a 380% increase in the number of employees making contributions to AVCs! It's easy to set up and minimises the workload for our teams.
I'd be happy to recommend AVC Wise and their services to fellow Local Authorities and LGPS organisations.
You and your employees could be saving too...
Shared Cost AVCs are more benefical than standard AVCs,
and are a great way to set up your future.
Find out more at AVCWise.co.uk, email us at [email protected], or call 01252 959 779.