Product and scheme information | Help and support

Do you offer death-in-service cover?

Niki Smith — Tue, 07 Feb 2017 09:55:17 +0000

We offer the Employer Life Cover (ELC) scheme – please note this is only available to construction employers.

ELC provides a tax-free lump sum to a member’s beneficiaries if they die for any reason whilst employed by you. For more information, give us a call on 01293 586666.

What does your auto-enrolment solution include?

editorial — Mon, 23 Nov 2015 00:01:01 +0000

We offer 2 routes for employers that want to join us, a fast track sign-up route called Simply Comply and a Simply Tailor route for a full choice of options, specific to the employer’s requirements. Simply Comply offers a simplified process, in line with basic regulatory requirements, while Simply Tailor allows an element of choice.

Simply Comply and Simply Tailor are specifically designed so that employers will benefit from a faster and slicker sign-up process. With both routes, there’s a range of payroll options and extended opening hours so employers can talk to someone at a time that’s right for them, online and on the telephone.

Included in both service options is the important step of letting The Pensions Regulator know (through completing the declaration of compliance) that an employer has done what they need to do to comply with their automatic enrolment duties.

What is master trust authorisation?

Niki Smith — Wed, 23 Jan 2019 15:57:41 +0000

Master trust authorisation is overseen by The Pensions Regulator. It will help ensure that master trust pension schemes (like The People’s Pension) continue to run in the best interests of their members. To become authorised, master trusts needed to show that their scheme met the 5 criteria laid out in legislation:

demonstrating the people running their scheme were fit and proper
the master trust was financially sustainable
the funder of the scheme could support it
the master trust had adequate systems and processes in place
a continuity strategy had been prepared.

We lobbied and supported the government’s decision to introduce an authorisation process for all master trusts operating in the UK pensions market. In August 2019, The People’s Pension was granted master trust authorisation from The Pensions Regulator.

We firmly believe this is an effective way to help ensure that all master trusts are properly run and well governed.

What type of company will you accept?

Alex Marshall — Wed, 16 Jun 2021 09:11:22 +0000

We’ll accept any company with one or more employees.

What type of pension scheme is The People’s Pension?

Andreas Muller — Tue, 26 Apr 2016 12:34:26 +0000

The People’s Pension is an occupational pension scheme. It isn’t a personal pension, group personal pension or stakeholder scheme.

Would The People’s Pension be classed as a money purchase scheme? Is there a difference to a defined contribution scheme?

Niki Smith — Fri, 09 Sep 2016 14:50:05 +0000

Yes. The People’s Pension would be classed as a money purchase scheme. There’s no difference between defined contribution and money purchase, it’s just that money purchase is the old terminology and defined contribution the new (but money purchase is still often used).