Revised guidance on choosing a pension scheme
26 August 2016
The Pensions Regulator (TPR) has revised their web content on choosing a pension scheme to make the information more accessible to small and micro employers for their automatic enrolment duties.
TPR research shows that a major concern for small and, especially, micro employers, is making the right choice of pension for their staff. So TPR has redesigned web pages in the online step by step guide to automatic enrolment, to help small and micro employers quickly navigate to the key information that they need.
The key elements of the revised design are as follows.
On the main Choose a Pension Scheme page:
- Reducing the volume of content to allow better navigation – most supporting content is now on the ‘what to look for in a scheme’ child page
- Highlighting some key considerations – including tax relief, but signposting to content on the child page that supports this
- Clearly signposting those pension providers that have said they are open to all employers, including GPPs and Master Trusts. This list will continue to grow as more providers ask to be included/gain master trust assurance, and will be regularly randomised.
On the child page What to look for in a scheme
- Content is presented in a more sequential manner – to give more guidance on key considerations
- Tax relief content is simplified – including a table to show which pension schemes offer which type of tax relief
- Revised content on costs and charges.