We’ve worked out these figures based on the projected cost of providing personalised support, both at sign-up (where the majority of the cost is incurred) and during the life of the scheme. We’ve consulted employers and intermediaries on this, and know that there is increased effort needed during the first year of set-up and operation.
The reduced rate of £300 plus VAT is based on the rationale that where an intermediary or adviser (i.e. a financial adviser or business adviser such as an accountant, bookkeeper or payroll professional) has been involved, the data and sign-up information is likely to be in a more accessible state.
Where an employer comes to us direct, the charge will be £500 plus VAT.