B&CE targets lower paid, transient workers with new auto-enrolment pension

B&CE has introduced a pension scheme, ‘The People’s Pension’, that will assist employers with auto-enrolment duties, particularly those with low to moderate earners and transient workers.

The People’s Pension is available across all industry sectors and is designed to offer a low-cost, portable pension.

It offers:

  • A range of online tools and systems for employers.
  • A low-cost, flat-rate annual management charge of 0.5%.
  • A governance framework focused on ensuring the right outcomes for members.
  • Flexibility so that employees can take their pension fund with them, without penalty or charge.

Patrick Heath-Lay, director of finance and strategic delivery at B&CE, said: “Building on our success within construction, we are confident the offer we have put in place will appeal to employers and employees in a wider context as it identifies and addresses everyone’s pension scheme needs.

“The charges are based on our experience of operating a comparable scheme, so we know first-hand what the associated cost implications are.

“Crucially, employers can rest assured that we have no repayment issues as we have no shareholders, making our sole responsibility our members.”

B&CE currently offers the UK’s largest stakeholder pension scheme.

Read more articles on preparing for auto-enrolment

Read the Employee Benefits pension reforms supplement 2011