WorkSave Pension Plan
Our WorkSave Pension Plan is a group personal pension that provides a tax-efficient framework for investing in an extensive range of insured funds, 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.
Our WorkSave Pension Plan also offers the option of the Future World Multi-Asset Fund for employers who wish to offer their members a default arrangement that takes a positive ESG stance.
Key features of our WorkSave Pension Plan for your :
- A default investment for auto-enrolment (chosen by Legal & General)
- Two alternative default investment options, including a target-dated funds
- Strong investment proposition offering access to a wide variety of funds
- The option of the Future World Multi-Asset Fund for employers who wish to offer their members a default arrangement that takes a positive ESG stance
- The option to operate a salary sacrifice arrangement
- Access for employees to manage their accounts online through our Manage Your Account portal
Members' benefits:
- access to a wide choice of investment options including:
- Legal & General funds such as index-trackers, Target Date Funds, actively managed funds and our innovative Future World Fund range with its positive ESG stance
- funds from specially selected external fund managers
- an option to invest in a wide range of assets, including shares from their company share schemes
- a facilitated adviser charging service that enables members to meet the cost of professional financial advice from their pension pots
- a range of online education materials and useful tools to help them manage their workplace pensions
- an online financial wellbeing hub which provides practical tools and regularly refreshed information to help support with budgeting and planning for key events throughout their lives
- access to the online Manage Your Account portal to view their savings, change funds and update their details in the years before they start accessing their pension pots
- ability to take their pension plan with them, if they change employer
WorkSave Pension Plan members can access their retirement savings in the following ways:
As 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.
As a 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% is usually tax free with the remaining 75% treated as taxable income.
As an annuity:
- Members can choose an annuity from any provider
Transferring out:
- If they wish, members can transfer their pension pot to another pension provider to access their retirement options.
Contact us
We'd like to share our experience and expertise with you. Speak to us if you would like to view a demonstration of our online solutions, or if you have any specific client projects that you would like to discuss.
Literature and forms
All the documents and literature about the WorkSave Pension Plan.
Responsible investing
Find out more about our policies and actions on responsible investing so you can share our credentials with your clients.