How The People’s Pension works
Run by independent trustees and administered by B&CE, a company with a proven track record, The People’s Pension is suitable for employers of any size in any sector.
We’re open to all employers
Suitable for employers of any size in any sector
Simple processes to submit employer data seamlessly
Clear and engaging communications, written in plain English, for you to use with your employees
Our independent Trustee looks after the scheme on behalf of the members, so you don’t have to worry about it
Adding money to employee pensions
Each employer has its own section of the scheme. This allows you to customise your own contribution rates and payment dates for different groups of employees, if you’d like to. You can set up your contributions as simply or as varied as you need.
Using our secure portal, files can be submitted from your payroll software to us, where we will allocate contributions to employees’ pension pots.
Employee contributions, along with contributions from you as their employer and tax relief from the government, are invested in a member account in the employee’s name.
How employees invest their pension savings
Members can choose to remain in our default investment option throughout the life of their account and their pension savings will automatically move to more secure investments as they approach retirement.
Alternatively, members can choose from a concise range of investment profiles or choose an investment fund (or funds) themselves. Members can choose their investment options, and make any other changes, through their own dedicated member portal.
How much members are charged
Our 0.5% annual management charge applies to each member’s pension pot. And that’s it!
This simple and transparent charge is 50 pence a year (0.5%) for every £100 of the value of each member’s account.