• New auto-enrolment compliant multi-employer offering for the voluntary sector goes live today
• DC websites launched
• Smarter charging structure: 0.45% AMC*with no annual charge across majority of schemes
SmarterPensions, The Pensions Trust’s innovative defined contribution (DC) multi-employer offering for the voluntary sector, goes live for employers today.
The new DC concept from The Pensions Trust, one of the leading occupational pension providers in the UK for the third sector, provides the platform for its ‘qualifying workplace pension schemes’ offering members exceptional value, with the Annual Management Charge (AMC) across the majority of the fund range set at 0.45% - one of the best value options on the market. The SmarterPensions schemes use AllianceBernstein’s Target Date Funds strategy as a default to ensure a more tailored investment approach for members, and also offer ethical fund options including Ethical Target Date Funds, believed to be the first of their kind offered in the UK.
The offering is fully auto-enrolment compliant**, providing a free auto-enrolment service to participating employers. New DC websites also launch today***, where members will benefit from a user-friendly live online service in operation 24 hours a day, with access to high quality scheme information including daily unit pricing, fund values and real-time quotations by the end of March 2013. SmarterPensions also provides a free annuity service, managed by administrative provider JLT, accessed via a separate password-protected site with an annuity calculator.
Stephen Nichols, Chief Executive of The Pensions Trust, said: “Every organisation has different needs when it comes to auto-enrolment, and for companies working within the third sector it can be hard to find solutions tailor-made to your needs. The Pensions Trust works exclusively in the charitable and not-for-profit sector and we have over 65 years of experience in understanding our customer base. Over the last year, we have listened to what the voluntary sector would like to see from its auto-enrolment offering, as well as the retirement concerns of members, and have been developing our new DC concept in line with this.
“As such we are very excited for our new DC concept, SmarterPensions, to go live today, as we feel it offers both new and existing members and employers a trust-based multi-employer DC scheme which provides stability, coupled with strong products at a competitive price.”
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