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Contact our press team

Eloise Henderson
Head of Strategic Communications
T: 01293 205335
M: 07741 384460
E: media@bandce.co.uk

Blaise Tapp
Media Relations Manager
T: 01293 205336
M: 07388 943700
E: blaisetapp@bandce.co.uk


The People’s Pension has announced today that it will go live with an enhanced service and support package for new and existing customers on Monday 23 November.

  • Option to ‘Simply comply’ with a fast track route to legal compliance
  • Or to ‘Simply tailor’, putting employers and advisers in control for a bespoke experience
  • Enhanced payroll support and extended opening hours with dedicated employer and adviser teams
  • We’ll even tell the regulator employers have complied

It will offer all new employers joining the scheme the complete package to meet their auto-enrolment (AE) needs – and has been specifically designed to support small employers as they start to stage from January 2016.

New employers will be able to choose between two routes. The first, ‘Simply comply’, will guide them through a fast track process designed to help them comply as quickly and easily as possible. The second, ‘Simply tailor’, offers employers a more bespoke experience to cater for the individual needs of their workforce.

Both routes will offer a number of different payroll options, both manual and automatic. There’ll be a range of online tools and assessment options available – and The People’s Pension will even tell The Pensions Regulator that an employer has complied. Customer service hours are set to be extended too, to 8am-10pm from January 2016, to provide an extra helping hand at sign up.

The enhancements to the scheme’s award winning service and support follow extensive research with small employers and their advisers on what they need from a workplace pension provider. They also build on not-for-profit provider B&CE’s experience of providing pensions to small construction employers for more than three decades.

Patrick Heath-Lay, Chief Executive Officer at B&CE, provider of The People’s Pension, said:

“Workplace pensions can be alien to people outside the pensions industry. Our research and 30 years of experience working with small employers tells us that they want simple solutions and a great deal of support in meeting their auto-enrolment duties. Our doors will remain open to everyone who wants to come to us, regardless of their size and their sector.

“That’s why we’ve developed a simple, hassle free and high support solution for busy people who just want to run their business, not get bogged down in pensions. Simplicity is the key. We’re here to help small employers navigate the auto-enrolment galaxy.”

Employers with a staging date of January 2016 onwards who sign up with The People’s Pension from Monday 23 November will pay a one off set up charge of £500 + VAT for all the support they’ll need for the life of the scheme. Employers with a 2015 staging date who sign up from Friday 1 January onwards will also be charged.

There will be no ongoing charges for employers, and the low annual management charge of 0.5% for members will remain. Employers signing up through an intermediary will pay a reduced charge of £300 + VAT.

Heath-Lay continued:

“We’ll be charging a one off set up charge only, and will not be charging employers for ongoing support.

“Our focus is on putting savers first. We don’t believe in frontloading member charges to cover the cost of supporting employers.

“That’s why we are introducing this charge. We want to make sure that we can keep delivering award-winning customer service and support to new and existing customers, and keep our member charges low.

“We know that small employers feel daunted by auto-enrolment. For the one off set up charge, we will make complying with the law easy, straight-forward, and stress free for small employers.”

-ENDS-

Notes to editors

About the enhanced service and support package

A table showing the difference between the two routes can be found below.

About our research

During the summer of 2015, B&CE (provider of The People’s Pension) carried out extensive research with small and micro employers and their business advisers. The mission was to understand how small and micro employers would be approaching auto-enrolment, and the level of support they would need to comply with their new duties.

Our findings will be published on our website shortly.

About The People’s Pension

The People’s Pension is the largest private sector mastertrust (multi-employer pension scheme) in the UK, with 1.7 million members and over 14,000 employer accounts.

Run by B&CE, a not for profit company, it offers a simple and low cost automatic enrolment workplace pension solution for employers of any size from any sector.

We tweet as @peoplespension.

 

Product details

Simply comply

Simply tailor

 

We complete as much of the account set-up as possible for you to make it easier to sign up and get started. The account will be set up to comply with the minimum automatic enrolment duties.

 

We let you set the account up with a full choice of options, allowing for a tailored solution specific to the employer’s requirements.

 

What we will do for you:

Set up the appropriate employer and employee contribution amounts in the account to meet the legal duties.

Reduce the information we require to set up the account to the absolute minimum.

Email joining information to employees – be prepared to have email addresses for every employee after the staging date.

What we cannot do for you:

Delay working out which staff to put into the scheme – this is known as postponement.

Set up a salary sacrifice arrangement, operate a fortnightly, four weekly, lunar or 4-4-5 payroll frequency.

Allow a choice of paying different contribution amounts.

 

What will I be choosing:

How much will be paid in by the employer and employee.

The basis on which payments are made into a people’s pension pot – qualifying earnings, pensionable earnings, total earnings or something else.

Whether to delay working out which staff to put into the pension scheme – this is known as postponement.

As many payrolls and payroll frequencies as required.

Varying amounts of contributions for different employees.

Whether to start contributing before the staging date.

 

Features:

 

 

Offers postponement?

No

You choose

How much will be paid into the pension scheme?

Legal minimums

You choose

How often are employees paid?

Weekly/monthly

You choose

Can include subsidiary employers?

No

Yes

One off set-up charge

£500.00 plus VAT

(Reduced charge of £300.00 plus VAT when signing up via a financial or business adviser with a reduced charge code)

What support do I get?

From Monday 23 November 2015, UK-based call centre open 8am-8pm on weekdays and 9am–1pm on Saturdays (currently open 8am-5:30pm on weekdays). From January 2016, we’ll be extending our opening hours again to 8am-10pm on weekdays and 8am-8pm at weekends.

ASK – online help facility

Resource library on our website full of useful information, downloadable guides, and help videos

Training mode to practise data upload – available on the employer account once registered