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Lighthouse Pensions Trust

Workplace pensions made easy. We do it all for you.

Auto enrolment is a reality for many UK businesses, but this doesn’t mean that setting up a workplace pension scheme has to be expensive and time-consuming. To ease the application and ongoing management of your pension scheme, we offer the Lighthouse Pensions Trust as a straightforward, value for money solution. As an employer you can use the Trust to satisfy your auto-enrolment requirements exclusively for all your eligible staff, or have the scheme run in parallel with other arrangements, and employees can utilise simple, dedicated investment tools that help facilitate and encourage retirement savings. 

Questions? Concerns? | Speak to us by phone at 0330 123 2530

Following the Pensions Act of 2008, we at Lighthouse Group wanted to design a process that eases auto-enrolment compliance and pension management concerns. Our goal was to create a workplace pension scheme that is versatile, cost-effective, and hassle-free. After much deliberation and with the help of some of the leading pension advisers in the UK, we created the Lighthouse Pensions Trust.

As a part of our Corporate Pensions Trust, the Lighthouse Pensions Trust adheres to guidance from The Pensions Regulator and The Department for Work and Pensions (DWP). This guidance can help employers implement a scheme that we believe represents “best practice” in workplace retirement savings.

Moreover, with the goal of encouraging employee retirement saving, the Lighthouse Pensions Trust features powerful and intuitive tools to help employers set up the scheme and to help employees visualise their savings and retirement goals.

Some important characteristics of the Lighthouse Pensions Trust include:

  • Ability to integrate into your business as your sole pension scheme or alongside an existing or different scheme
  • Flexible investment approaches
  • Options for ‘Do it Myself’ funding
  • Optional auto-enrolment compliance support, to meet employer’s ongoing assessment and communication obligations
  • Member Access Portal (MAP)
  • Member and Employer App
  • Options to outsource the implementation and management of your scheme to a Lighthouse financial adviser or an Employee Benefits Consultant

Another fundamental trait of the Lighthouse Pensions Trust is its flexibility and adaptability. Remember, the Trust is designed to ease your workplace pension scheme concerns and obligations. Although it is designed in particular to suit workplace environments with average staff turnovers and small companies with less than 250 employees, the Trust can be effective in many diverse settings.

The Lighthouse Pensions Trust is results-orientated, cost-effective, and designed with you in mind. To learn how this trust can benefit your business, become your workplace pension scheme, or resolve your auto-enrolment compliance needs, call a Lighthouse financial adviser today at 0330 123 2530.

Every UK business must enrol certain employees into a workplace pension scheme and then contribute to their retirement pots.

This is where the Lighthouse Pensions Trust can be advantageous for employers. By integrating intuitive and cost-effective online tools right into the Trust’s framework, the Lighthouse Pension Trust is designed to streamline the management and application of your workplace pension scheme.

Some other beneficial pension tools include:

  • Paperless processing
  • Ability to have your financial adviser log-in to manage the employee pension contributions
  • Member Access Portal (MAP) for easy investments visualisation

The Lighthouse Pensions Trust scheme is also flexible for a wide variety of work environments, from large enterprises to small businesses. Employers can choose to apply the Pensions Trust as their sole workplace pension scheme, or they can choose to integrate the Trust alongside an existing or different scheme.

Employers can also enjoy several options regarding the management of the investments within the Pensions Trust. For employers who prefer the ‘Do It For Me’ default investment option, we at Lighthouse will ensure that a professional fund manager carefully looks after member savings while keeping comprehensive records.

The other investment option, ‘Do It Myself’, gives employers diverse retirement saving strategies and alternative funds to choose from, such as risk-rated multi-asset passive funds.

Planning for a financially secure, care-free retirement is easier than you may think. Truth is, the Lighthouse Pensions Trust is designed to encourage comprehensive and intelligent saving for your retirement pot. Your pension scheme will also be safeguarded by the involvement of the managerial input and pensions expertise of Bridge Trustees Limited, a 100% owned subsidiary of the Eversheds global law firm, as well as your Lighthouse financial adviser (if applicable).

As such, when building your retirement pot within the Lighthouse Pensions Trust, you can expect to receive the support of a team of experts and independent professionals who are looking out for your best interests.

As a UK employee, you can join the Lighthouse Pensions Trust in one of two ways:

  • If your employer automatically enrols you.
  • You can opt into the Scheme if you are between 16 and 74 years of age and your employer allows it.

Through the online Member Access Portal (MAP), you can find all of the information regarding your retirement plan at the click of a button. Just some of the important features included within the Lighthouse Pensions Trust and MAP include:

  • Retirement pot visualisation
  • An Advanced Estimation Tool that lets you see an estimated amount (likely range of amounts) that you will receive in retirement income.
  • Visualisations of the level of contributions you and your employer are paying
  • Certain tax reliefs
  • Flexible investment options
  • ‘Do It For Me’ investment option
  • ‘Do It Myself’ investment option

The Lighthouse Pensions Trust is completely flexible; even if you stop working or if you change jobs, the Lighthouse Pensions Trust is designed to adapt to your unique circumstances.

The goal of the Lighthouse Pensions Trust is to ease auto-enrolment obligations and compliance concerns, provide more flexibility to your (or your employees’) retirement pots, and facilitate smarter retirement saving. To make this possible, we designed the Lighthouse Pensions Trust to ensure that opting in and getting started is simple, time-efficient, and straightforward.

For individuals not automatically enrolled in their employers pension scheme with Lighthouse Pensions Trust, you can get started through our Member Access Portal (MAP). Using the MAP, the first step is to fill in the Opt In notice with the following details:

  • Personal details
  • Data protection information
  • Your authority allowing your employer to deduct contributions from your pay

After filling in the opt-in notice, you will need to pass it to your employer’s payroll department. This way, the first contributions to your retirement pot can occur on your next pay date.

Due to the versatility of the Lighthouse Pensions Trust, as well as its ability to adapt to a wide variety of workplace situations and circumstances, it can be challenging to fully appreciate its full scope and complete benefits. For this reason, we’ve included a short list of FAQs.

 – Who runs the Lighthouse Pensions Trust scheme?

The independent trustee company Bridge Trustees Limited runs the Lighthouse Pensions Trust scheme. Bridge Trustees Limited is a 100% owned subsidiary of Eversheds, a large global law firm.

 – What are the requirements for auto-enrolment?

UK businesses are required to automatically enrol their employees into a pension scheme. According to the Pensions Act, employers must enrol employees that meet the following criteria:

  • Are not already in a workplace pension scheme
  • Are aged 22 or over
  • Are under State Pension age
  • Earn more than the specified, minimum amount for the current tax year (this figure may change each April)
  • Work, or usually work, in the UK

– Can I opt out of the Lighthouse Pensions Trust scheme?

Eligible jobholders and non-eligible jobholders can opt out of the Lighthouse Pensions Trust within a month after their enrolment. As an employer, if your employees opt out, then you’ll have to refund any contributions they’ve made.

Through the Member Access Portal (MAP), workers can opt out online and choose to stop contributions after opting out. Opting opt via paper forms is possible as well.

 – How much do I have to contribute to an employee’s scheme?

The UK government has set a minimum amount that employers must put into their employees’ pensions, and this minimum amount may continue to increase over a certain number of years.

In addition to the government minimums that you must contribute, the Lighthouse Pensions Trust offers a variety of funding options and other features, some of which may affect the exact amount you contribute to your employees’ pensions.

To help you figure out the contribution amount, you can call Lighthouse Group and speak to a dedicated financial adviser.

– If I leave my job or change jobs, what happens to my Lighthouse Pensions Trust retirement pot?

The Lighthouse Pensions Trust was designed for adaptability. As such, if you stop working, you can still contribute to your retirement pot. Likewise, if you change jobs, you can still contribute to your Lighthouse Pensions Trust retirement pot. In some cases, your new employer may be using the same scheme and both you and your employer can continue contributing to the scheme.

 – How can I contribute to my retirement pot?

You and your employer will contribute to your retirement pot. Contributions will come directly from your pay as well as be added to by government tax reliefs. You can also voluntarily elect to contribute an additional portion of your earnings to your retirement pot each month.

 – How can I take money out when I’m retired?

There are many ways to access a retirement income from your Lighthouse Pensions Trust. You can make this choice between the ages of 55 and 74, but your Scheme will contact you before you turn 65 with specific details.

Some of the options for retirement income include:

  • Take all your retirement pot as cash
  • Buy a retirement income
  • Take a cash lump sum and buy a retirement income
  • Take an income directly from your pension fund
  • Transfer your retirement pot from one scheme to another

It is important to consider your specific financial circumstances, usually with the help of a financial adviser, to determine the most beneficial way to receive your retirement income and manage your retirement.

 – How can I find more information about the Lighthouse Pensions Trust?

Perhaps the best way to learn how the Lighthouse Pensions Trust directly relates to your unique circumstances is to call Lighthouse Group today at 0330 123 2530.

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Risk Warning: A Pension is a long-term investment. The fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.

Please Note: Although our automatic enrolment services are not covered by the rules and guidance of the FCA, we are applying best practice and disclose to all clients the information contained within this document. We are also obliged to comply with the rules and guidance of The Pensions Regulator in advising you on matters pertaining to automatic enrolment and the Lighthouse Pensions Trust.

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Why choose Lighthouse ?

20+ Years & Industry Accredited Awards

Extensive experience in auto enrolment schemes for businesses of all sizes

Practical solutions for retirement building and security

A Lighthouse financial adviser is prepared to work alongside you and help determine whether the Lighthouse Pensions Trust is an advantageous solution for your auto-enrolment needs.

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