Pension scheme switching set to grow as first auto enrolment schemes come of age

Emily Jacobs

Companies which were in the first wave of auto enrolment can now review their pension schemes for the first time.

Switching may be beneficial to both the company and their employees, according to experts at Richard Jacobs Pensions.

“The bigger firms began to auto enrol three years ago and can now look at their scheme again,” said Director, Emily Jacobs.

“The market has grown and there are new products out there, so it may be advisable for some companies to look again. Switching could mean both a lower fee for the employer and better terms for their employees.”

“Employers need to be showing due diligence and need to be getting the best deal for their staff.”

Auto enrolment is now essential for all but the very smallest businesses as firms with 25 to just two workers are now having to provide a company scheme.

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Notes to Editors:

Richard Jacobs Pension & Trustee Services Ltd was established in 1992 and operates from offices at Brindley Court, Lymedale Business Park, Newcastle-under-Lyme.