WorkSave Pension Plan

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.

  1. Benefits for your company

    • Easy to administer
    • Cost-efficient solution
    • Default option for auto enrolment
    • Wide investment choice, including over 100 funds and lifestyle profiles
    • Enables you to operate a salary sacrifice arrangement
    • Flexibility to tailor your pension plan by:
      • streamlining the range of investment options
      • providing your employees with a self-investment option
      • offering a share rollover facility
    • Holistic and integrated approach to financial wellbeing for our Workplace customers. A digital customer journey with supporting campaign materials
  2. Benefits to your employees

    • Access to over 100 investment options, which include:
      • Legal & General managed funds - including multi-asset, index-trackers and actively managed funds
      • Funds from a range of selected external fund managers
      • Lifestyle profiles 
      • Our Pathway Funds (also known as target date funds)
    • Ability to  invest in a wide range of assets, including shares from company share schemes
    • Online access for members to view and manage their pension quickly and easily
    • Online educational content and other useful tools helps members manage their pension needs
    • Access to our adviser charging service enabling members to meet the cost of professional advice directly from their pension pot
    • Flexibility to consolidate existing pots or take the pension plan with them to their next employer
    • The financial wellbeing hub enables employees to feel more financially happy, through online support with practical tools and, where appropriate, products to meet individual needs


Options at retirement

Members may select one or a combination of the following options:


  1. Cash lump sum

    Members can take some or all of their pension pot as a lump sum, with a minimum partial withdrawal amount of £2,000. The first 25% will usually be tax free and the remaining 75% treated as taxable income.

  2. A flexible income

    Members with a pension pot of £30,000 or more (before any cash lump sum) can elect to take their pension as regular or irregular income as needed. Minimum drawdown limits apply and income payments are treated as taxable income.

  3. Annuity

    Members may choose an annuity from any provider.

  4. Transferring pension benefits

    Members can transfer their pension pot to another provider before and in some circumstances after retirement.

Contact us

We would love to talk to you about your company’s pension requirements.