A selection of our most frequently asked questions

If you have any further questions please contact us

If you have any questions, please contact us.


What is Auto-enrolment

UK employers have to automatically enrol their staff into a workplace pension if they meet certain criteria. The law on workplace pensions has now changed and every employer must comply.

What are the new retirement rules?

From April 2015 you will no longer have to buy an annuity with your pension funds. In fact, all restrictions on your pension pot will be removed and you will have total freedom over how you withdraw your money.

Under the new rules you will be able to access your entire pension after the age of 55. As is the case now, 25% of your money can be withdrawn free of any income tax.  The remaining 75% of your money will be subject to income tax at your highest marginal rate. You can withdraw it all at once or in stages.

Once you have withdrawn your money, you can spend or invest it in any way you see fit.

What are the current retirement regulations?

Upon retirement, you will have the option of a tax-free cash sum of up to 25% of your fund’s investment value, together with the ability to purchase a pension payment for yourself, your spouse or your dependents. All pensions will be secured by way of an annuity and you may select the provider you prefer.

What if I die?

You should provide your beneficiary details in the Application Form. Your spouse/beneficiaries should contact the Administrator. They will liaise with the Corporate Trustee and Investment Manager to make payment of the return of the fund value. 

Can I transfer out?

Yes. Please contact the Administrator if such circumstances arise.

What is the retirement age for the Scheme?

The current retirement age for the Scheme is 70. 

What paperwork will I receive?

Upon joining the Scheme you will receive an information pack that will include confirmation of your acceptance to join the Scheme, as well as contact details. You will also receive annual statements giving you up to date information on the value of your funds and a projection of what your fund might be worth in pension terms at retirement.

Should I get financial advice?

We would recommend that you speak with a financial adviser before making any decisions. The following website will assist you in finding one: www.unbiased.com

Am I receiving financial advice?

No you are not receiving financial advice from the Scheme’s professional team. The Corporate Trustee and/or Administrator will provide you with information only so you can make an informed decision on where you wish to transfer your pension funds.

What are the charges?

All charges are disclosed in the Application Pack and the Scheme handbook. 

There is no initial transfer charge and the annual charge is 0.75% per annum. This will be applied to settle the costs and fees of the scheme such as The Trustee, Investment Manager, Administrator, auditor, legal and professional advisers.

Who manages the Scheme's investments?

The Corporate Trustee has appointed Ganita Wealth Limited as the Investment Manager. 

Who are the trustees of the scheme?

The scheme has a Corporate Trustee called: Audax Management Limited, 40 Hoghton Street, Southport, Merseyside, England, PR9 0PQ

What is an occupational pension scheme?

These are schemes set up by employers. They are trust based with the trustees taking responsibility for decisions within the pension fund on the Member’s behalf. 

What is a pension?

A pension is a way of saving for your retirement in a tax efficient way. Many people save into pensions monthly or contribute alongside contributions from employers. There are a number of types and names of pension such as defined contribution, defined benefit, final salary, etc. 

Risk Addendum

  • A penalty may be applied to your existing pension plan if it is transferred. 
  • The Scheme offers an execution-only service and we recommend that you seek professional advice from a suitably qualified financial advisor if you are considering transferring existing pension benefits into the Scheme. 
  • The value of investments can fall as well as rise and is not guaranteed. You may get back less than the amount invested. 
  • Past performance must not be viewed as an indication of future performance. The price of investments may change quickly and can go down as well as up. 
  • In certain overseas jurisdictions there may be different settlement, legal and regulatory requirements to those applying in the United Kingdom and also different practices for the separate identification of customers’ investments. 
  • We do not make investment recommendations. Any investment information is provided solely to enable you to make your own investment decisions and must not be treated as a solicitation or recommendation to buy, sell or otherwise deal in any particular investment. 
  • Some of these risks may not be relevant to your pension, depending on the investment strategy you have chosen.