Two new solutions to make fulfilling your auto enrolment obligations easier.

We‘re developing two new initiatives, designed to meet the auto enrolment challenges facing employers – WorkSave Choice, designed to manage the process for enrolling or opting out of auto enrolment into a qualifying pension scheme, and WorkSave Pension Trust, which provides a qualifying pension scheme that can offer refunds of contributions for short service leavers.

We have conducted extensive customer research to identify both employers’ and employees’ concerns about auto enrolment. The new initiatives will help you ensure that you comply with the auto enrolment requirements announced by the Government-appointed review team on 27 October 2010.

WorkSave Choice guides employees through the auto enrolment and opting out process and helps to ensure employers fulfil their obligations, whatever route the employee chooses to go.

WorkSave Pension Trust provides a qualifying pension scheme for employers who wish to offer a refund of contributions for those employees who leave with less than 2 years service.

Tony Filbin, Managing Director, Workplace Savings said:
“The new rules for auto enrolment will start to impact on most employers from next year, although the legislation is not due to come into force until 1 October 2012, which is why we have acted so swiftly to develop our new auto enrolment initiatives.

WorkSave Choice has been designed to aid the crucial auto enrolment and opt out decision and process.  We have had strong customer feedback to say help is needed at this crucial time, both for the employee in making a decision, with appropriate guidance on investment choice for those who stay in, and for the employer attending to the many governance requirements surrounding the decision.

WorkSave Pension Trust, our second new initiative, is a flexible, platform based occupational pension scheme that will allow for refund of contributions for early leavers. Our research indicated that there is likely to be significant demand from both employers and advisers to have flexibility around the exemption vehicle for those who are seeking an alternative to NEST; this completes our suite and is compatible with our existing WorkSave Platform product range.”

For more information about these solutions please contact your usual scheme manager or Neil Kempshall, Head of Corporate Sales at neil.kempshall@landg.com.