We understand the importance of saving for your future. That's why we have chosen to work with Aegon and provide you with Retiready. Our negotiated charge of 0.43% for the scheme (inclusive of administration and investment charges) gives you the chance to save securely at far lower rates you would usually be paying with any other scheme. Not only are we offering you the opportunity to set up a pension plan, you’ll also be able to save in other products such as an ISA.

The wide range of investment options available to you helps you make the most of your savings, and the full range of retirement options gives you a seamless transition to retirement – so you’ll have flexibility over your income when you’re ready to retire.

Registration for the scheme, and the Direct Debit mandate will be via the IPSE website. IPSE will collate all payments once a month and remit to Aegon. Registration automatically sets up an account on Aegon's Retiready platform and the member manages all investments via that platform - IPSE does not manage investments or provide advice. With one username and password to remember, it couldn’t be simpler to keep on top of your portfolio.

If you have any queries that are not covered in the documents below, please call Aegon directly on 0345 680 1234 option - workplace savings.

Please note we can only answer generic queries if the member hasn’t joined the scheme yet.

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Making Pension Contributions from your company

Generally speaking total annual pension contributions are limited to a maximum of your "relevant earnings” - which do not include dividends - or the current Annual Allowance (£40,000 in tax year 2015/16) whichever is the lower. A tapered Annual Allowance will be introduced from April 2016 for those with income (including individual and employer pension contributions) of over £150,000. For every £2 of income over £150,000 the annual allowance will be reduced by £1 down to a minimum of £10,000. 

In general, provided that the contribution does not exceed these limits your limited company can make pension contributions and deduct them as a cost against corporation tax. Pension contributions are not taxable as a benefit-in-kind and there will be no further tax to pay from either the company or the individual.

However, and this is absolutely key, if your company makes a pension contribution on behalf of an individual that is in excess of the individual’s relevant earnings (but under the Annual Allowance), this would be acceptable subject to the contribution being justifiable to HMRC relative to the individual’s contribution to the business. For owner-managed businesses it is likely that HMRC would find such contributions to be acceptable, but this is somewhat subjective and not clear cut and we strongly advise IPSE members to seek advice from their accountants or independent financial advisers as to whether a company contribution would be ‘justifiable’ in their individual circumstances.

IPSE Futures and auto-enrolment

 
In general the IPSE Futures pension does not qualify as an auto-enrolment scheme.
 
However most IPSE members will be exempted from having to auto-enrol if any one of the following criteria apply:-
 
  • you’re a sole director company, with no other staff
  • your company has a number of directors, none of whom has an employment contract
  • your company has a number of directors, only one of whom has an employment contract
  • your company has ceased trading
  • your company has gone into liquidation
  • your company has been dissolved
  • you no longer employ people under a contract of employment
Automatic enrolment duties will apply if more than one director has a contract of employment.
 
Some companies may need to inform the Pensions Regulator that they are exempt and a good starting place for this can be found on the Pensions Regulator website 
 
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