Common questions

Both you and your employees can contribute to the scheme. You have complete discretion over who can join, unless the scheme is claiming exemption from stakeholder regulations.

Yes, at the discretion of the trustees, and subject to the suitability of the transferring scheme, transfers can be received from Group Personal Pension schemes, Group Personal Stakeholder schemes or an Occupational scheme. 

No.

Yes, as long as you meet the following criteria:

• Employees must be allowed to join within 12 months of starting work.
• The scheme must be open to all employees over the age of 18 who are more than five years from the scheme’s retirement age.
• Please note, a stakeholder pension scheme may be more suitable.

Trustees are responsible for setting up a contribution payment schedule. You’re responsible for deducting contributions from employees’ salaries. Payment must be sent to us by the 19th of the month following the month in which the contributions are deducted.

Our SmartPay facilities allow you to manage the calculation, collection and payment of contributions, either direct from the payroll or through a separate spreadsheet.

Yes. Within certain limits, they can be raised, lowered or stopped at any time. If contributions stop for a ‘break’ period, this will affect the final amount of pension payable. Where an employee works on beyond the normal retirement date, contributions can be carried on up to age 75. There are no charges for making these changes.

A death benefit will be paid from the retirement fund, and the trustees will be responsible for distributing it to the deceased’s beneficiaries according to the scheme’s rules.