PENSIONS
Significant achievements for Workers Pension Trust
orkers Pension Trust , Northern Ireland ’ s largest locallybased auto provider , is celebrating
Wenrolment reaching a number of significant milestones over the last few months .
The only local pension provider to be awarded Master Trust Assurance accreditation , a quality standard which recognises schemes with exceptionally high standards of governance and administration , Workers Pension Trust has now also passed a significant member milestone with 40,000 people enrolled onto the scheme .
Iain Ferguson , business development manager at Workers Pension Trust , explained : “ We set up Workers Pension Trust as an autoenrolment solution when the workplace pension legislation was introduced in 2012 and , as a notforprofit organisation , we have two main objectives . We aim to make the autoenrolment process as easy as possible for local businesses and as a direct result of that , to help thousands of people to start saving towards their retirement .
We have been operating a similar multiemployer pension scheme for the local construction industry since 1982 and we were able to draw on that experience to develop a scheme which not only complies fully with the regulations but is also simple and user friendly for employers .
“ This has been a great success and we ’ ve been working with companies of all sizes and across all sectors for the last five years . Now , more than 40,000 members across 3,000 organisations in Northern Ireland have recognised the strength of the scheme and service we offer and have entrusted us to look after all their autoenrolment needs .
“ Reaching this member milestone , along with the achievement of Master Trust accreditation , further affirms our position as the largest private sector pension scheme based in Northern Ireland and is testament to the standard of our autoenrolment solution .”
Given the significant growth in membership , Workers Pension Trust has extended the services it offers to companies to include Group Life Assurance .
Iain added : “ Life Assurance is viewed as one of the most highlyvalued employee benefits that a company can offer its staff and so we wanted to give our client companies the chance to provide their employees with further peace of mind .
“ The Workers Pension Trust Group Life Assurance Scheme , which complements our pension offering , has very competitive rates and is administered by the same experienced team that has been providing this service to
Catriona Murray , Joan Arndell and Iain Ferguson from Belfastbased Workers Pension Trust , the largest autoenrolment provider based in Northern Ireland .
the local construction industry for more than 40 years . Over that time we have paid thousands of claims which have gone some way to helping families who are struggling financially following the death of a loved one .”
The Group Life Assurance Scheme is open to all employers that use Workers Pension Trust . Premiums start from as little as £ 1 per week per employee , with three levels of lump sum cover available £ 25,000 , £ 50,000 and £ 100,000 .
There is no medical underwriting required and a dedicated team of trained bereavement counsellors is on hand to offer advice and support on practical and emotional issues , at home or in work .
“ As per our pension scheme , administration required for the Workers Pension Trust Group Life Assurance policy is straightforward and our team members are equipped to talk people through each stage of the process ,” said Iain .
Many larger employers have now reached the third anniversary of their autoenrolment date and as such are required to reenrol any employee who opted out the first time round . This milestone provides the opportunity for employers to review the service they obtain from their pension provider .
MOREINFORMATION
Workers Pension Trust is perfectly placed to accept transfers from any company wishing to change pension provider .
For further information on the autoenrolment delivery programme , re-enrolment after three years or the Group Life Assurance provided by Workers Pensions Trust , please visit www . workerspensiontrust . co . uk or contact Iain Ferguson on 028 9087 7142 or iain @ workerspensiontrust . co . uk .
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