WorkSave Pension 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.

  1. Benefits for your company

    • Offers a range of comprehensive service packages and options
    • Default investment option for auto enrolment
    • Enables you to operate a salary sacrifice arrangement
    • Holistic and integrated approach to financial wellbeing for our Own Trust customers. A digital customer journey with supporting campaign materials
  2. Benefits to your employees (as determined by the trustees)

    • Access to a choice of investment options, which may 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)
    • Ability to  invest in a wide range of asset classes
    • 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 regulated advice directly from their pension pot (if permitted by the trustees of the scheme)
    • 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

    Available at the discretion of the trustees. 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

    Available at the discretion of trustees. NB: Where the trustees do not wish to offer drawdown within their own trust scheme, a mastertrust version may be established to run in tandem.

    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.