About the transfer – for employers
Both EasyBuild and The People’s Pension are workplace pension schemes provided by B&CE.
We’ve decided to refine the number of pension arrangements we offer. So in future you’ll only be able to use B&CE as your workplace pension provider through The People’s Pension.
In case you’re wondering, B&CE’s Employee Accident and Life Cover won’t be affected – it’s just our EasyBuild pension scheme we’re closing and moving everyone over to The People’s Pension instead.
Benefits of moving to The People’s Pension
The People’s Pension currently has over 3 million members and assets of over £1.7 billion. Tens of thousands of businesses have chosen it to automatically enrol their employees in line with the automatic enrolment requirements that came in from 2012.
What you need to do
If you’re happy for The People’s Pension to be used as your chosen workplace pension scheme, and to continue making contributions but to The People’s Pension instead of EasyBuild, there’s a few things we’ll need you to do:
Settle your EasyBuild account
Make sure your account is up to date and any August payments settled by 22 September 2017.
Tell your employees
You’ll need to write to your employees before 1 September 2017 to tell them that in future, contributions will be made to The People’s Pension instead of EasyBuild.
Return your deed of participation
To join The People’s Pension, you need to complete and return the deed we sent you along with your letter (if you haven’t already signed up to use The People’s Pension). And you’ll need to complete and return this Direct Debit mandate form.
Or, if you don’t wish to make the switch to The People’s Pension…
- You’ll need to tell us if you don’t wish to make the switch to The People’s Pension within 2 months of the date of the letter we sent you.
- You’ll then have to make alternative arrangements for pension provision for your employees, as you can’t continue to make contributions to EasyBuild on or after 1 September 2017.
- Your employees will still have the option to transfer their existing EasyBuild pension savings to The People’s Pension.
Haven’t seen a letter from us and think you should have?
If you offer an EasyBuild pension scheme to your employees, and you haven’t yet received a letter about the move from EasyBuild to The People’s Pension, please contact us.