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.

  • Simple, efficient way to enrol members and pay contributions
  • Charges tailored to suit your circumstances
  • 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
    • Ability to transfer shares from employer sponsored share savings schemes

Members' benefits:

  • Access to a wide choice of investment options:
    • own funds, including multi-asset, index-trackers and actively managed funds
    • funds from specially selected external fund managers
    • range of lifestyle profiles and target date funds
  • 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 personal 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
  • Access to the adviser charging service that enables members 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 to further enhance our innovative, member engagement proposition and the development of our ongoing, digital, customer journey. Achieved using the agile methodology and ongoing research to deliver a needs-based approach with regular content refresh

Flexi-access drawdown:

  • £30,000 minimum pension pot before PCLS, for monthly 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