Trust Based Pensions

Run by trustees on behalf of an employer, this can be an ideal option if your work pension scheme is moving from defined benefit to defined contribution.

What is a Trust Based Pension scheme?

Just as it sounds, it's a workplace pension scheme run by a group of trustees that you appoint and trust, rather than by a large pension provider.

Why is it useful?

It can meet your needs as an employer by delivering robust governance and flexibility to ensure good outcomes for your employees. The downside? Members must pay the costs of running the scheme out of their pension pots, so it can be a bit more expensive for them.

Do you need a Trust Based Pension scheme?

If you’re considering moving from a defined benefit scheme to a defined contribution scheme, it might well suit you. There’s no single right way to go about things when it comes to work pensions – call us to discuss your options and see what suits your situation best.

Defined contribution scheme

A pension built up through contributions from you, your employees and tax relief from the government.

Defined benefit pension

In this plan an employer promises a specific monthly benefit on retirement that is based on earnings, service and age rather than investment returns.

Why choose a Trust Based Pension?

These types of schemes are run by a trustee appointed by you. This gives your employees added security because they'll still get their pension even if your business runs into difficulties.

The benefits of a Trust Based Pension Scheme

First and foremost, we're business people ourselves, and getting to know you, your business and the needs of your employees is our priority.

What our Trust Based Pension can offer you:

Happier members

You can rely on us to keep in touch with your pension scheme's members so that they stay engaged, value the workplace pension you provide and feel positive about their future finances.

Always compliant

We'll do all the necessary reporting and supply the information needed to keep your workplace pension compliant with the new pension regulations for employers.

A seamless journey

To get your scheme set up and running smoothly, we'll work with you to pinpoint your particular needs and plan the transition, and keep you updated on the latest pension news.

Flexible features that adapt with you

For example, buyout policies for leavers let trustees focus their efforts on active members. And an extra cash account is useful for keeping refunded employer contributions in the scheme and can be used by trustees to meet scheme expenses or paying any future contributions.

Clear and flexible costs

To help you manage costs, we operate a bundled charging structure.

Investment approach

Good outcomes for your members rest upon sound investment decisions. There’s a choice from our range of high quality, off-the-shelf investment solutions, each selected by experts. Or, for a more hands-on approach to managing investment strategy, we offer customised options such as:

  • Customised lifestyle profiles – offer your members greater personalisation
  • Scheme core fund ranges – streamline the range of funds available to keep things simpler
  • Blended funds (may be subject to extra charges)

Our Summary of Trust Based Pensions

Our Trust Based Pensions are ideal for schemes moving from defined benefit to defined contribution (DC), or for employers looking to maximise efficiencies. Standard Life is a market leader in the group DC market, and has been delivering innovative, flexible solutions for UK companies for over 25 years and manages all or part of the pension arrangements for a large number of leading pension schemes from both the public and private sectors.

To talk Trust Based Pensions, call us on 0345 268 8478

We're open Monday to Friday, 9am to 5pm. Calls may be monitored and/or recorded to protect both you and us and to help with our training. Call charges will vary.