BlueSky recently launched The Crystal Trust, the UK’s first trust based managed flexible drawdown plan
BlueSky Pensions UK, the award winning innovators, are a leading provider of highly governed workplace pension provision and are at the forefront of pension provision in the UK.
The BlueSky Pension Scheme, a non-profit arrangement, is one of the largest multi-employer Mastertrusts in the UK and has been in operation for nearly 30 years. It offers free access to any employer with additional competitively priced support available.
The BlueSky Pension Scheme received the Pension Scheme Innovation award early in 2015 in recognition of adding value and originality to the pensions industry and for displaying excellence and a true commitment to the needs of its members.
Employers can meet their auto enrolment needs and give their employees a high quality employment benefit by nominating the award winning BlueSky Pension Scheme as their workplace pension scheme.
All employers in the UK must comply with Auto Enrolment legislation and have been assigned a ‘Staging Date’.Further information on ‘Staging Dates’ can be found in the Auto Enrolment section of the BlueSky website.
What employers need to do:-
Nominate a contact
Know your staging date
Prepare a plan
Review pension arrangements
Check process and software
Know your workforce
Communicate with staff
Declaration of Compliance with The Pensions Regulator
The secret to successful compliance is preparation and keeping the process simple.
Assess payroll processes
Assess existing pension arrangements
Commence investigations 6 months before your staging date
Auto Enrolment Solution
In addition BlueSky offer the Real-Time Auto Enrolment Data and Communications package for employers to assess their workforce and satisfy Auto Enrolment responsibilities effectively, for only £7 per employee per annum.
Crystal Drawdown – Managed Flexi-access Drawdown solution
BlueSky recently launched The Crystal Trust, the UK’s first trust based managed flexible drawdown plan and is open to any employer, pension scheme or individual.
Crystal provides a range of retirement investment options for individuals to aggregate or accumulate pension benefits with a view to drawdown or take pension income at retirement on a managed or flexi access drawdown basis and retain control of the investment.
At retirement, a transfer of pension rights into the Crystal Trust, will enable individuals to receive a tax free lump sum and pension income.
In the new world of flexible savings which includes pension changes, there is more control and freedom of choice available through Crystal, where historically, individuals had to make a single irreversible decision and buy an annuity.
There are no set up fees or minimum terms when joining Crystal, with investment and drawdown options starting at just 0.75% per annum.
Further details of all 4 options can be found by visiting www.crystaldrawdown.uk