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Existing Pension Schemes

Welplan remains committed to supporting you to meet your automatic enrolment requirements while a new default scheme is being identified.

The decision to withdraw from the pensions market has no immediate impact on existing employer schemes. Welplan Pensions currently remain in place in all respects so that employees’ continued participation remains unaffected by the decision. Broad implications of the decision are:

  • Steps are being taken by the Trustee Board to identify the most appropriate master trust to whom Welplan Pensions can transfer the existing scheme.
  • On-going auto enrolment enabling new employees to join their employer’s scheme remains in place
  • On-going voluntary additional contributions – for employees who wish to add more contributions to their savings remains in place
  • Continuity of pension security and continued expert fund management
  • No new action is required by employers or employees, simply continue to make contributions as normal
  • Employers will be updated on progress identifying a new receiving master trust

We wrote to all participating employers regarding the planned closure of the Welplan Scheme on 25th March 2019 available here. We have also produced a fact sheet for employers to communicate developments with employees.

Welplan will continue to provide its 5 star rated management administration service while this transition occurs.

 

Defaqto 5 star rated

Welplan Pensions has been awarded a 5 star rating for auto enrolment by Defaqto, a leading independent financial research company

Master Trust assured

Welplan Pensions proudly held the Master Trust Assurance Framework standard, recognising our high quality governance and administration

Fully online service

Continue managing and processing contributions using our online service

For further information contact our dedicated team of experts on 0800 195 8080 or via email