The auto-enrolment solution for Northern Ireland
Workers Pension Trust has been developed specifically to meet the needs of auto-enrolment for businesses based in Northern Ireland. The scheme is also open to employers based in other areas of the UK. The scheme administrators have 35 years’ experience in operating a multi-employer trust-based pension scheme for the construction industry (Enhance Construction Pension Scheme Northern Ireland).
Workers Pension Trust can be implemented as a stand-alone auto-enrolment solution or to complement existing pension arrangements. We currently administer the pension requirements of more than 4500 companies and thousands of employees. One of our key strengths is that we provide a local service, we do not use call centres or automated messages.
Workers Pension Trust is set up under trust to ensure that the assets are protected. Workers Pension Trust Limited, a corporate trustee, is responsible for all aspects of Scheme governance on behalf of Members. Workers Pension Trust Limited is a company limited by guarantee. There are no shareholders. The Scheme is governed by a Board of Trustee Directors which includes Business and Trade Union Representatives.
In February 2017 Workers Pension Trust qualified for the Master Trust Assurance Framework quality standard and is the first local scheme to receive this recognition.
The assurance is based on the new framework developed by the Institute of Chartered Accountants England and Wales (ICAEW), in partnership with the Pensions Regulator. Trustees are required to report against 27 ‘control objectives’ relating to governance and administration which are audited on an annual basis. Workers Pension Trust obtained independent Master Trust Assurance, from Assure UK, with no exceptions noted and is one the first Master Trusts in the UK to report under the new framework. Achievement of the assurance demonstrates that the highest standards of governance and administration are maintained.
Construction First Ltd co-administers the Scheme with JLT Benefit Solutions Ltd. Construction First Limited has 35 years’ experience in operating a multi-employer trust-based pension scheme for the construction industry (Enhance Construction Pension Scheme Northern Ireland). JLT Benefit Solutions Ltd is authorised by the Financial Conduct Authority and is a key player in the UK pensions market.
Employers may delegate access to someone from outside their organisation, such as an accountant, financial adviser or payroll provider. A ‘delegated access user’ administers all aspects of the employer’s account within Workers Pension Trust, including:
• Enrolling workers into the Scheme
• Processing Opt Out Forms
• Removing workers from the Scheme
• Updating employees’ personal information (address, salary changes etc)
• Processing contribution payments
• Confirming direct debit amounts
• Updating the employer’s business and contact information
• Corresponding with the administrator and Trustee of the Scheme
Employers remain responsible for all actions carried out by a delegated user. For example, if the delegated user fails to provide the Scheme with pension contributions on time this would remain the employer’s responsibility.
The Scheme is listed with Defaqto and 360 Financial Services.
More than 4500 employers from a wide range of business sectors including manufacturing, transport, hospitality, health care and professional services have signed up to Workers Pension Trust.
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