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 a wide range of investment options, which include:
      • Legal & General managed funds - including multi-asset, index-trackers, actively managed funds and our innovative Future World Fund range
      • Funds from a range of specially selected external fund managers
      • Range of lifestyle profiles 
      • Our Pathway Funds (also known as target date funds)
    • Option to invest in a wide range of assets, including shares from company share schemes, when an employer selects the self-investment option
    • Online access for members to view and manage their pension quickly and easily
    • A range of online tools, designed to educate and engage members. These tools include various retirement planning and budgeting tools to help them make the most of their money
    • Access to our adviser charging service enabling members to meet the cost of professional regulated advice directly from their pension pot
    • Flexibility to consolidate existing pots or take the pension plan with them to their next employer
    • Access to the financial wellbeing hub, which enables employees to find financial happiness 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. The first 25% will usually be tax free and the remaining 75% treated as taxable income.

  2. A flexible income

    Members can use income drawdown to take regular payments and or occasional cash lump sums. Drawdown 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.