Ashmore Group raises pensions take-up with wrap

Ashmore Group has seen a 43% increase in the number of staff making voluntary contributions to their pension schemes since the launch of a corporate wrap.

The Corporate Vantage scheme, provided by Hargreaves Lansdown, was introduced to replace the investment management firm’s existing group self-invested personal pension (Sipp) arrangement.

Employees are able to invest in any of the 2,600 funds available through the corporate wrap, as well as UK-listed and overseas shares, and Ashmore Group’s own shares.

Other results of implementing the corporate wrap include:

  • A 20% increase in average employee pension contributions.
  • 16% of members are now managing their individual savings account (Isa) investments alongside their pension scheme.

Hargreaves Lansdown delivered six group presentations and 75 one-to-one meetings for Ashmore Group’s staff.

Rob Edwards, head of HR at Ashmore Group, said: “The corporate wrap has proved to be a convenient and flexible solution for our employees.

“Any employer that wants to give their staff more options for their long-term pension savings should seriously consider this type of scheme.”

Tom McPhail, head of pensions research at Hargreaves Lansdown, added: “The combination of a versatile and engaging workplace savings scheme and a well-designed implementation process has resulted in more individuals making better provision for retirement.”