Our WorkSave Pension Mastertrust offers all the flexibility and benefits of a trust based scheme but without you taking on the responsibility of running a trustee board.
It's a multi-employer scheme. Each participating employer is treated as a separate scheme within the Mastertrust.
It can help you manage the long-term cost of pension provision, especially with auto enrolment, by reducing future liabilities attached to running your own Defined Contributions Scheme. It can also offer a high level of scheme governance to benefit you and your employees.
We can provide a flexible approach to tailoring your scheme according to your budget, contractual obligations and company ethos.
- Flexibility to:
- accept no responsibilities of trusteeship or
- share governance and scheme design
- Option to choose whether members receive tax relief on their contributions through:
- traditional net pay or
- at source
- The provision of trustee support services
- A default investment for auto enrolment (chosen by Legal & General)
- Two alternative default investment options, including a target dated solution
- The ability to agree own default investment option where you share governance
- The ability to operate a salary sacrifice arrangement
- An alternative option for trust based schemes which do not offer full pension freedoms
- Access to a wide choice of investment options:
- Legal & General funds, including index-trackers, Target Date Funds, actively managed funds and our innovative Future World Fund range
- funds from specially selected external fund managers
- range of lifestyle profiles and Target Date Funds
- Online access for employees that allows them to view their savings, change funds and update their details in the years before they start accessing their pension pot
- Access to a facilitated adviser charging service that enables them to meet the cost of professional advice from their pension pot
- A range of online member education and other useful tools to help manage their workplace pension
- An online financial wellbeing hub which provides practical tools and regularly-refreshed information and ideas to help them to find financial happiness