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WorkSave Pension Plan.
Diverse investment options
Our WorkSave Pension Plan allows you and your clients to tailor the investment options to suit different employee groups.
The plan provides access to one of the most comprehensive fund ranges in the workplace savings market. The self investment option offers an even broader choice of investments, including unit trusts and property.
| Flexible scheme set up | The scheme can be set up in one of two ways:
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| Diverse investment options | The insured only plan offers over 150 funds both from our range and other fund providers. We can work with you and your clients to select a Suggested Fund Range to help streamline the choice for employees. With the self investment option, there’s an even broader choice of investments including unit trusts, OEICS and property. Remember, the value of investments can go down as well as up and is not guaranteed. Any money invested in the plan is tied up until employees take their benefits. | ✓ |
| Clear charging structure | All Annual Management Charges (AMC) are individually assessed, including the self investment charges. Insured only charges:
Self investment charges:
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Remuneration options
This plan is available on a fee income basis or as follows:
Insured investments
There are two types of commission:
Funded commission, with a choice of:
- initial (multiple of the first monthly contribution)
- level plus override (percentage of contribution)
- percentage of fund basis
Contribution commission – up to 5% funded by a like for like reduction in the allocation rate down to 95%.
Self investment
We can pay an employee-authorised adviser fee as a monetary amount or based on an investment amount or fund value. This type of remuneration is also available for income drawdown payments.
You need to know
The law and tax rates may change in the future and the value of tax relief will depend on individual circumstances.
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© Legal & General Group plc 2012
