Workplace Pensions

The Workplace Pension is a UK registered pension scheme open to all employers regardless of size. It is a master trust occupational defined contribution scheme. 

The Workplace Pension is a qualifying workplace pension scheme as defined by The Pensions Regulator and is suitable for use for Auto-Enrolment. With independent governance at its heart, the trustee board has eliminated conflict of interest by using independent external trustees.


Choosing a Qualifying  Workplace Pension

  • Open to all employers of any size
  • Independent default fund
  • Simple online set up
  • Investment options available outside of default
  • Simple clear charging structure
  • Transfers in / transfers out – to allow members to consolidate all previous pensions in one place and take pension with them if they move job
  • Tax relief – operate Net Pay Arrangement giving tax relief through payroll

THE WORKPLACE PENSION DEFAULT FUND

Alliance Bernstein BIRTHSTAR® Target Date Funds 

Alliance Bernstein has teamed up with BirthStar®, a research and advisory firm, to bring an innovative, forward-thinking and professionally managed investment approach for savers in UK workplace pension schemes with the BirthStar® Target Date Funds. 

This provides UK savers with access to the vast research and management capabilities of Alliance Bernstein, one of the world’s largest investment firms. Click here for more information.

The scheme can be used by all employers. It is flexible, transparent and meets the Qualifying Workplace Pension requirements of Auto-enrolment with an independent default and a range of additional investment options.

There is much to do to ensure employers meet all of their auto-enrolment obligations in a compliant, cost effective and hassle free way. Recent research suggests that Employers  facing auto-enrolment have underestimated the time needed for the process by over a month and with fines for getting this wrong charged on a daily basis this could be an expensive mistake!

See Multi-employers (for Accountants and Business Advisers dealing with Multiple employer payrolls) and Affinity schemes for a model to manage this option.

Contact us for information of this proposition