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Welplan Pensions Awarded Top 5 Star Defaqto Rating

Monday, November 6, 2017

Welplan Pensions, the auto enrolment pension schemes provider, has been awarded a 5 Star Rating by independent research organisation Defaqto. This is the highest-achievable rating, given only to financial products or services assessed as “excellent, with a comprehensive range of features and benefits.”

Defaqto Star Ratings show how financial products and services rank in comparison with each other in order to help employers, advisors and consumers make better-informed purchasing decisions.

Bruce Kirton, Chief Executive of Welplan, commented: “Welplan Pensions is extremely proud to have achieved this top, 5 Star Rating from a highly regarded and impartial assessor. Employers can find it difficult identifying which auto enrolment pension provider will be best for them, and Star Ratings can help them make a more informed decision.”

Ratings are re-assessed annually by analysing developments, trends, and regulatory changes, and by researching which product features are most important to customers. The Auto Enrolment Star Ratings are especially helpful to buyers in a relatively new and fast-growing market. Of the 60 auto enrolment pension providers that currently hold Defaqto ratings, most have four stars or fewer.

Welplan Pensions was also awarded Pension Quality Mark (PQM) READY status for the third year running in 2017, in recognition of the scheme’s clear communications and strong governance, and achieved Master Trust accreditation for the second successive year, in recognition of high standards of administration and governance.

Welplan was established in 1965 and has provided industry-wide workplace pension solutions since 1988.  Originally a provider to the building engineering services industry, the company now offers auto enrolment pensions to employers of any size in any industry. Other than HSBC’s Amanah Fund, all funds are managed by Legal & General Investment Management, one of Europe’s largest asset managers and a major global investor.