The Pensions Trust appoints investment provider

The Pensions Trust has appointed AllianceBernstein as the investment provider for its auto-enrolment product, SmarterPensions.

Its auto-enrolment-compliant defined contribution (DC) scheme will be launched in March 2013 and is intended to provide a platform for the pension provider’s qualifying workplace pension schemes.

The scheme will use AllianceBernstein’s target date funds as its default investment option. It will also offer the investment provider’s ethical fund options and use FTSE4GoodFunds and UK government gilds to provide required growth and risk characteristics.

Stephen Nichols, chief executive at The Pensions Trust, said: “If people are not going to be disappointed with their pensions, they must have an investment product that is flexible and adaptable, aiming to change according to circumstances.”

The pension provider has also changed the pricing structure for its current DC products. There is no longer an annual fee for its flexible retirement plan, while the annual management charge (AMC) for the plan will be reduced to 50 basis points. The AMC for its ethical fund, growth plan DC products and multi-employer DC schemes will also be reduced.