The People's Pension, provided by B&CE, has launched its new full support automatic enrolment pension solution for small businesses. This new high support solution has a one off set-up charge but a reduced charge applies to FMB members. If you are an existing customer of ours, the charge won’t apply.
How the charge works
A one off set-up charge of £500 plus VAT applies to businesses that have a staging date from January 2016 onwards who sign up to The People’s Pension from Monday 23 November 2015. It will also apply to those that have a 2015 staging date and sign up from 1 January 2016 onwards.
For FMB members, there’s a reduced charge of £300 plus VAT. And there are no ongoing charges for employers.
What this means for you:
- high standards of service and support for new and existing customers
- ongoing support for employers during the life of their scheme
- no ongoing charges for employers
- a low annual management charge of 0.5% for members of The People’s Pension – same as it’s always been.
Existing customers adding new subsidiary companies to their scheme will not be charged, and neither will existing customers of any of B&CE’s other products.