Our WorkSave Pension Plan is a group personal pension that provides a tax-efficient framework for investing in an extensive range of insured funds, 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.

Overview

  • Simple, efficient way to enrol members and pay contributions
  • Charges tailored to suit your circumstances
  • A default investment for auto enrolment
  • Two alternative default investment options, including a target dated solution
  • Strong investment proposition offering access to a wide variety of funds
  • Flexibility to offer a more tailored investment solution:
    • A more streamlined range of investment options
    • Self investment with access to the open market
    • Ability to transfer shares from employer sponsored share savings schemes
  • Ability to operate a salary sacrifice arrangement

Members' benefits:

  • Access to a wide choice of investment options:
    • Legal & General funds, including multi-asset, index-trackers, actively managed funds and our innovative Future World Fund rage
    • funds from specially selected external fund managers
    • range of lifestyle profiles and target date funds
  • Option 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 personal details, 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
  • Access to facilitated adviser charging service that enables them to meet the cost of professional advice from their pension pot
  • Ability to take their pension plan with them, if they change employer
  • An online financial wellbeing hub which provides practical tools and regularly refreshed information and ideas to help them to find financial happiness.  

Retirement options

Flexible income:

  • £100 minimum income per month or £2,000 minimum ad hoc drawdown

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