With new UK regulations increasing employer responsibilities for their pension plans in late 2012, AEGON’s Group Personal Pensions (GPPs) enables employers to improve the value and security of their employee benefits today.
Increasing responsibilities
DC plans in the UK presently give both employers and employees considerable freedom of choice in whether they wish to participate and how they wish to invest. The proposed 2012 UK pension reforms look set to change this by introducing compulsory workplace pension plans with auto-enrolment, minimum employer and employee contributions and increased responsibilities for the employer to provide suitable investment options. As a result, employers are looking for effective, lower cost solutions that provide employees with trustworthy and effective investment opportunities. In order to meet these requirements, AEGON has designed its GPP solution to include high quality investment options and a wide range of support tools.
A tax-efficient, flexible solution
A GPP is a collection of tax-efficient Personal Pension Plans offered by an employer to its employees. A Personal Pension Plan is a contract-based DC pension savings vehicle, for which the employer typically pays an agreed contribution into each employee’s individual account.
The AEGON Group Personal Pensions Plans provides:
- A competitive, low-cost pension solution
- No investment or liability risk for corporate sponsor
- SmartScheme, a comprehensive suite of online systems covering plan set up, contributions management and ongoing administration
- A wide range of investment options, underpinned by a strict governance process
More information
Please read more in the brochure AEGON Group Personal Pensions in the UK or contact Iain Stringer, Regional Director UK, Ireland and Nordics.
