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Products

What we offer

Find out more here on our range of trust and contract-based pension products which can be flexibly tailored to your needs.

Pension plans

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. Governance is overseen by the Independent Governance Committee (IGC).

Key documents

Key Features of the WorkSave Pension Plan

Summary of the WorkSave Pension Plan

Member’s booklet WorkSave Pension Plan

Our Legal & General Mastertrust offers all the flexibility and benefits of a trust-based scheme but without the responsibility of running a trustee board.

It can help you manage the long-term cost of pension provision, especially with auto-enrolment, by reducing the future liabilities attached to running your own defined contribution scheme. It also offers a high level of scheme governance to benefit you and your employees.

Yet while being in a multi-employer scheme simplifies the process of managing member benefits and keeps costs down, each participating employer is treated separately within the Mastertrust to allow for a tailored approach to individual budgets, contractual obligations and company ethos.

Key documents

Product summary WorkSave Mastertrust

Corporate Adviser Awards 2023: winner of Best Master Trust

Our WorkSave Pension Trust offers a flexible trust-based DC pension solution.

With a range of investments and tailored servicing options it enables you, as trustee, to retain responsibility for the management of your pension scheme and be actively involved in decision making.

Our WorkSave Buy Out Plan allows pension scheme trustees to discharge their liabilities for defined contribution member benefits without the need for consent from members.

It enables trustees to provide members with a buy-out contract – either following the wind-up of their occupational pension scheme or for securing benefits for members with short service.

Our WorkSave Buy Out Plan also offers the option of the Future World Multi-Asset Fund for trustees who wish to offer their members a default arrangement that takes a positive ESG stance.

Key documents

Key features WorkSave Buy Out Plan

Member's Guide WorkSave Buy Out Plan

Product summary WorkSave Buy Out Plan

Governance and oversight

Pension consolidation

If you’re the trustee or administrator of a DC scheme with assets of under £100 million, you’re required to carry out extended value for money assessments. We’ve got the knowledge, expertise and resources to support you in meeting your new legislative obligations.

Benefits to members

Support and training tools

A range of online education materials and useful tools to help members manage their workplace pension.

Online account management

Access to the online Manage Your Account portal allows members to view their savings, change funds and update their details in the years before they start accessing their pension pots.

Pension portability

The ability for members to take the pension plan with them to their next employer.

Financial wellbeing hub

A hub which provides practical tools and regularly updated information to help support members with budgeting and planning for key events throughout their lives.

Pension tracing service

Helps members to find and transfer old pension pots into their new pension.

Member engagement

We’re highly experienced in helping companies engage members with their new workplace pension scheme. See a full list of our tools and services available to members on our hub

 

Retirement options

All our products offer a selection of ways for members to access their retirement savings, so they can take full advantage of current pension legislation rules:

  Flexible income Cash lump sum Annuity Ability to transfer
Our prducts include
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Notes:

Flexible income is at trustees’ discretion for own trust schemes.

Drawdown payments are treated as taxable income. When taking a cash lump sum the first 25% is usually tax free with the remaining 75% treated as taxable income.

Tax treatment is dependent on individual circumstances and is subject to change.

Workplace ISA

We’ve listened to employees and designed a new stocks and shares ISA that aims to meet their needs.

We’ve taken the complexity out of investing to make it simpler for your employees to choose the investment that suits them and take greater control of their financial future.

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