Consolidation of trust-based occupational pensions

As trust-based occupational pension schemes face tighter regulations, you might be thinking about consolidation. Find out about our top tips for successful pension consolidation, and how we can help you save time and money.

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Why consolidate with The People’s Pension?

The People’s Pension is a flexible, portable workplace pension, rewarding members not shareholders. As an authorised master trust we’re recognised and approved by The Pensions Regulator as a pension provider that’s properly run and completely focused on the needs of our members.

Trusted by over 5 million members

Managing over £17bn of members’ money

Dedicated consolidation team to help you every step of the way

Helping members save more by giving back £1m in reduced charges every month

Time and cost savings for you

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Our top tips for successful trust-based pension consolidation

Tighter regulations mean more time and cost

The government and The Pensions Regulator’s drive to increase the quality of workplace pensions towards better member outcomes has meant tighter regulations and more scrutiny for trust-based occupational pension schemes.

Our key considerations guide – for single-employer defined contribution trusts covers the impact that these changes in regulations have had over the last few years, including:

  • the removal of short service refunds
  • the annual management charge cap for ‘qualifying schemes’
  • an increasing emphasis on good governance
  • requirements for further transparency in annual statements
  • pressures to offer members better investment choices.

For employers with their own ‘in-house’ scheme, this means more time, cost and resources to meet these changing regulations and to support trustees. As a result, employers may need to consider reviewing the relationship between scale, cost, governance, sustainability, and ultimately their ability to continue operating in the pensions market.

Next steps

Thinking about consolidating? Contact us to discuss if The People’s Pension can meet your needs and for more information on the support we can offer…

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