TargetPlan - for larger, more complex schemes
Managing complex employee requirements
We recognise that large employers and group companies often have a variety of HR and pay-roll systems, pay scales, pay days and contribution schemes across their different locations and divisions.
TargetPlan is designed to address these challenges by giving you a dependable, trouble-free workplace pension solution, no matter how multi-faceted your requirements may be. Plus, with a member-specific online view, each member only sees the information that’s relevant to them.
Formerly the BlackRock UK DC pensions business, TargetPlan is widely used by employers who want to base their workplace pension in a master trust.
TargetPlan supports the workplace savings needs of many of the largest employers in the UK
A master trust is a multi-employer pension scheme whereby each employer has its own separate division but governance, trustees and regulatory responsibilities are centralised to reduce operating costs and offer greater simplicity than a single-employer scheme.
The Aegon Master Trust is accredited by the master trust assurance framework(Opens new window) – a voluntary framework providing an independent review against an industry-wide quality standard.
Contract and trust-based solutions
TargetPlan also supports contract-based DC arrangements, offering them the same administrative flexibility as the master trust.
Trust-based pension schemes seeking a third-party administrator to underpin their scheme can also look to TargetPlan to provide market-leading administrative and investment-only services.
LifePath lifestyling funds
TargetPlan includes the LifePath range of lifestyling funds. LifePath funds gradually alter their investment mix as the member moves closer to retirement to help manage risk and maintain a suitable investment balance, depending on the member’s retirement plans.
LifePath offers three investment journeys:
The default option - for those planning to leave their savings invested in retirement and drawdown income from them.
For those planning to buy an annuity at their target retirement age.
For those planning to take their retirement savings as a cash lump sum at their target retirement age.
Employers using TargetPlan can select from over 230 blended and white-labelled investment funds, including ethical and Shariah options. TargetPlan is also able to accommodate any adviser’s specific investment solutions, where these fall outside the existing range.