Husky Finance

Second Draft

How Husky Helped Second Draft Achieve Pension Compliance and Boost Employee Morale

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Company growth

Future staff onboarding became effortless, supporting company growth.

Employee benefit

Employee engagement improved through the interactive pension app.

Key benefits

Compliance

Compliance achieved seamlessly, freeing the company from legal stress.

Salary Exchange

Salary exchange boosted take-home pay and pension savings.

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How Husky Helped Second Draft Achieve Pension Compliance, Remove Liability, and Boost Employee Morale

Challenge:

Second Draft, a small business, faced significant hurdles in setting up a workplace pension scheme when they hired their first employee during the pandemic. As time passed, their delays in establishing the scheme raised concerns about non-compliance and potential fines from The Pensions Regulator (TPR). With limited resources and increasing stress over their legal obligations, they found it difficult to navigate the complexities of auto-enrollment. The risk of penalties and the burden of backdated contributions added to their anxiety, as they feared failing both their employees and legal requirements.

Solution:

Through a referral from a financial services partner, Second Draft connected with Husky, experts in auto-enrollment and workplace pensions. Husky quickly took over the compliance burden, handling everything from assessing Second Draft’s workforce from their duties start date to backdating contributions and liaising directly with TPR to bring them into full compliance. This eliminated their liability and removed the immediate threat of fines. Husky’s user-friendly platform simplified the entire process, while tools like the salary exchange calculator made decision-making straightforward and showcased the benefits of the scheme.

Achievements:

  • Effortless Compliance and Liability Removal: Husky handled all regulatory matters, including workforce assessment and backdated contributions, making sure Second Draft avoided penalties from TPR and became fully compliant.
  • Increased Employee Engagement: Staff used Husky’s platform to explore pension options, which boosted their financial confidence and sense of security.
  • Salary Exchange Benefits: The salary exchange not only increased take-home pay for both the company and employees but also contributed to growing retirement savings.
  • Streamlined Future Onboarding: The system now allows Second Draft to seamlessly onboard new employees into the pension scheme with minimal effort.
  • Boosted Employee Morale: With the pension scheme in place, employees felt more secure about their financial futures, allowing them to focus on their work and contribute positively to the company.

“During the challenges of the pandemic, we learned that supporting our team’s future is more than a legal requirement—it’s about doing right by them. Working with Husky lifted that weight off us, making it easy to stay compliant and focus on growing our business.”
— Mark Bell, Second Draft

Conclusion:

By partnering with Husky, Second Draft was able to remove the stress of pension non-compliance, eliminate potential fines from The Pensions Regulator, and backdate contributions to make their pension scheme compliant. This partnership not only safeguarded the company from liability but also boosted employee morale and engagement, enabling Second Draft to focus on both current growth and the long-term financial well-being of their team.

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We setup and manage your workplace pensions, payroll, and salary exchange—all in one place, ensuring compliance every step of the way.