Pension Advisers Choosing The Right Pension

Clear Workplace are expert independent pension advisers specialising in auto enrolment. Selecting the right pension provider for your company can be a headache. Until auto enrolment, pension providers would fight for your company’s business; that has changed now that tens of thousands of employers per month are ‘shopping’ for pensions. Traditional pension providers – life insurance companies - are being picky about which employers they will accept; they often impose minimum contribution levels or charge employers a fee.

Furthermore, a new breed of pension called a ‘mastertrust’ has been created specifically for the auto enrolment market. Many of these are sound but some are unestablished brands that require careful assessment before you put you and your colleague’s money with them. You will also want to consider how the different providers compare on charges, default investment strategy, acceptance (or not) of transfers, refunds of contributions for leavers, integration with payroll, retirement income options, retirement ‘glidepath’ or ‘lifestyling’ and treatment of tax relief, amongst other things.

We make all this very simple for you. We’ll discuss with you what’s important to you and your employees and using this criteria, we’ll produce an independent, robust pension provider report confirming you have undertaken appropriate due diligence for your protection. After which, we will set up the scheme for you and help you or your accountant set up payroll accordingly.