News 2018

We’ve launched our financial wellbeing hub

We want to help members feel better about their finances. We believe that if we can enable people to be financially engaged now, we can put them on a path to future financial happiness with the resources to enjoy whatever their future may hold. So we’re delighted to announce we’ve now launched our online financial wellbeing hub.

Talking about mental health, it’s NOT A Red Card offence

Scottish rate of income tax

The new Scottish rates of income tax came into effect on 6 April 2018. The changes we needed to make in order to implement these new rates cover three main areas: Notification of residency, the Scottish tax rate and threshold changes, and relief at source.

Here’s to a future full of Saturdays

As a defined contribution pension provider with 2.7m members, we want to help enable our members to be financially engaged now, so we can put them on a path to future financial happiness. That’s why we’re developing an online financial wellbeing hub to deliver helpful and meaningful financial support to all members.

Gone aways

We currently have around 67,000 ‘gone away’ members who are missing out on important communications and updates from us. We’d like your help to reconnect with these members.

Member engagement enhancements

Minimum pension contributions will soon be increasing

You will be aware that by law, every employer must make increases to the minimum contributions for their automatic enrolment pension scheme, with effect from 6 April 2018 and then again from 6 April 2019. The way employers calculate and pay contributions into their pension scheme must be changed to reflect these increases. The minimum contribution will also increase for employees.

Helping pension scheme members meet the costs of financial advice

We’re pleased to announce the extension of facilitated adviser charging to our WorkSave Buy-Out Plan, Mastertrust and other trust-based schemes. Facilitated adviser charging enables members to meet the cost of professional advice from their pension pot so long as such advice relates directly to their workplace pension or its benefits.