Pensions News.

Workplace Savings named Auto Enrolment Provider of the Year
On 9 May we were named Auto Enrolment Provider of the Year by the UK Pensions Awards 2012. This is a brand new category for this year and we’ve come top over some of our biggest competitors for our market leading and value-adding auto enrolment proposition.

Positive feedback for new look benefit statements
Following the launch last November of our new benefit statements, we've had over two thousand responses so far and the feedback has been amazingly positive.

Improvements to member online service
We’re enhancing our current service for members – Manage Your Account – to ensure employees are in control of their retirement savings at their convenience.

WorkSave ISA fund charges reduced
From 1st February, our WorkSave ISA unit trust charges were reduced in line with market demand.

Text messaging service for scheme members
Workplace Savings are constantly looking at ways to drive engagement through employer sponsored savings schemes. We're achieving this by providing regular and better information to customers in ways that are useful and convenient to them.

Customer research on auto enrolment
Auto enrolment research shows a minimum of 74% of employees will stay in scheme

One million more households in danger of debt
Our latest MoneyMood Survey shows a million households are worse off now than they were just 1 year ago.

Maximum diversity, minimum cost: Our new multi-asset fund
On 1 November, we introduced a new low-cost, multi-asset investment fund and an accompanying lifestyle profile.

New look pension benefit statements
We’ve re-designed our pension statements to present customers with a clear and easy to understand document.

Launching our online opt out demo for auto enrolment
We’re currently working to complete our online opt out function, WorkSave Choice, in time for the beginning of auto enrolment next summer.

New WorkSave Pension Trust offers your clients flexibility and control
Introducing our WorkSave Pension Trust tailored to suit the needs of trust-based clients looking for flexible investment options and a bespoke level of service.

More than just a helpline
Our member helpline, run by a team of experts, provides scheme members with outstanding service and support.

Employee views on auto enrolment
We’ve recently revealed the findings of new research into how employees will deal with the auto enrolment process.

Workplace Savings win Pensions Week retirement slogan competition
An idea to encourage saving for retirement

Submissions management process improved
With our enhanced service, Scheme Administrators can manage new joiner and existing member contributions quickly and easily directly through Manage Your Scheme.

People 'saving less for retirement'
In the past year there has been a dive in the savings levels of people who are about to or have already given up work, a study has suggested.

Enhancing our bulk transfer operations
To deal with bulk transfers smoothly and efficiently we’ve recently launched our new and enhanced Bulk Transfer Operating Model.

Benefit changes
The previous forms of drawdown – Unsecured Pension (USP) and Alternatively Secured Pension (ASP) before and after 75 respectively – have now been merged into Capped Drawdown.

Pension contributions and the annual allowance
The Annual Allowance was reduced to £50,000 on 6 April 2011 and the previous restrictions for high earners with total income of £130,000 or more ended.

Future Lifetime Allowance levels
The Lifetime Allowance will reduce from £1.8m to £1.5m on 6 April 2012. If your clients have already made saving decisions based on the existing Lifetime Allowance, then they can apply for 'Fixed Protection'.

Saving for a pension shows a sharp rise
The number of people who say they’re thinking of saving for a pension has shown a significant rise according to figures in the latest MoneyMood Survey (April 2011) indicating a positive return to saving for the longer-term.

Early access to pensions ruled out
Savers will not be able to access their pensions early, the Government has announced.

Dividend payouts increase by £1.4bn
Shareholders have pocketed £15 billion in dividends in the first three months of this year in what promises to be a good year for investors, new research suggests.

Recognition for our outstanding customer service
Workplace Savings has received an Outstanding Service award from Investor in Customers for our commitment to meeting the needs of the market and our customers.

Mixed reaction to retirement plans
Just a quarter of employers are in favour of moves that will see the default retirement age of 65 scrapped next month, latest research has revealed.

What a carry on!
Carrying forward any unused allowance can make a huge difference to your pension contributions.

Important legislative change.
On 1st March 2011, the Court of Justice of the European Union (ECJ) published its ruling on the legality of Article 5(2) of the Gender Directive 2004.

Member education with a difference
Our popular Cash Family Challenges continue to help scheme members understand their finances.

New! Member Education HUB – The Learning Zone.
Helping to educate and inform scheme members about pensions and savings.

Council bosses 'earn more than PM'
Nearly half of council chief executives in England and Wales were paid more than the Prime Minister last year, new research has claimed.

Two new solutions to make fulfilling auto enrolment obligations easier.
We’re developing new solutions to simplify administration and reduce costs, so your clients can meet their auto enrolment obligations without burden.

Group pensions and insured/hybrid SIPP provider of the year!
We were crowned winners of two industry-leading awards for best group pensions and insured/hybrid sipp at the technology administration and service (tas) awards 2010.

Legal & General to play key part in auto-enrolment
Auto-enrolment update, 24 June 2010

The June 2010 budget
Some key points from the Coalition Government's emergency budget

Group SIPP Provider of the Year - two years in a row!
We’ve done it again! For the second year in a row, Legal & General has been named Group SIPP Provider of the Year at the FT Business Pension & Investment Provider Awards (PIPA) for its WorkSave Pension Plan.

The future of group pension provision
Introducing our WorkSave Pension Plan, a flexible, future-proof pension product to satisfy the needs of you and your clients.

Real value for money
Adrian Boulding, Pensions Strategy Director, explains why employer pension contributions are becoming even better value.