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WorkSave Pension Plan.

Our WorkSave Pension Plan is a group personal pension with the option to offer self investment if required. The plan was designed with the collective needs of an employer's entire workforce in mind.

  • Easy to administer
  • Cost efficient
  • A default investment for auto enrolment
  • Strong investment proposition offering access to over 100 funds.
  • Ability to operate a salary sacrifice arrangement
  • Flexibility to offer a more tailored solution:
    • A more streamlined range of investment options
    • Self investment with access to the open market
    • Share rollover facility
  • New! Facilitated adviser charging service for workplace pension scheme members

Members' benefits:

  • Access to a wide choice of investment funds including:
    • own funds, including index-trackers and actively managed funds
    • funds from specially selected external fund managers
    • lifestyle profiles
  • Allows members to invest in a wide range of assets, including shares from their company share schemes
  • Online access with the ability to view their savings, change funds and update their details whenever they want, in the years before they start accessing their pension pot.
  • A range of online member education and other useful tools to help manage their workplace pension
  • Ability to take their pension plan with them, if they change jobs

Flexi-access drawdown:

  • £30,000 minimum pension pot before PCLS for regular income
  • £100 minimum income per month or £2,000 minimum ad hoc drawdown
  • An initial set up charge of £250 is payable for taking a monthly income

Cash lump sum:

  • Full - 25% tax free with 75% as taxable income
  • Partial - £2,000 minimum. 25% tax free with 75% as taxable income

Annuity:

  • Yes - from any chosen provider

Transfer out:

  • Yes - member's pension pot can be transferred to another pension provider to access their retirement options

For more information, please speak to your usual contact or get in touch.

We'd like to share our experience and expertise with you. Speak to us if you would like to view a demonstration of our online solutions, or if you have any specific client projects that you would like to discuss.

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