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Auto Enrollment Pension Schemes - Annual Return

What's the best scheme for our employees?

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Does anybody have guidance on the best scheme for employees to be enrolled into such as reports on annual rate of return etc? 

Reviewing our scheme to ensure employee and employer are paying into the best scheme possible for retirement.

Currently using NOW pension.

Replies (14)

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RLI
By lionofludesch
10th Nov 2021 14:32

It's a question for your Financial Adviser, not an accountant.

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Replying to lionofludesch:
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By Truecon
10th Nov 2021 14:48

You're completely incorrect- I'm sure others in the industry have seen some such reports "Does anybody have guidance on the best scheme for employees to be enrolled into such as reports on annual rate of return etc? "

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Replying to Truecon:
RLI
By lionofludesch
10th Nov 2021 14:53

Truecon wrote:

You're completely incorrect- I'm sure others in the industry have seen some such reports "Does anybody have guidance on the best scheme for employees to be enrolled into such as reports on annual rate of return etc? "

[chuckle]

Thanks for your "advice".

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Replying to lionofludesch:
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By Truecon
10th Nov 2021 15:11

Not very helpful

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By Paul Crowley
10th Nov 2021 16:02

Disagree entirely (Replying to 14.48 Post)
It is the job for an IFA
Internal rate of return, not heard that refered to since study days
Performance is only the past
But performance and costs are the comparators to be considered.

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Replying to Paul Crowley:
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By Truecon
10th Nov 2021 17:04

Maybe my response was mis-read there?- I'm looking for annual rate of return reports, in reality this is performance which you mention is the comparator to be considered

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By Paul Crowley
10th Nov 2021 14:52

Past performance...........

The future is unknown
Stick with what you have, because you need a good reason to change

BUT no reason why you could not compare the costs of the various main providers
Then consider if higher costs mean they have better people doing the investments?

Historically there has been no direct reationship between costs and performance

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Replying to Paul Crowley:
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By Truecon
10th Nov 2021 15:12

Good point- I haven't found any reports on past performance for auto enrollment schemes myself, hence the question I suppose

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paddle steamer
By DJKL
10th Nov 2021 15:14

When I looked at setting up ours I used Peoples because at the time their ongoing charges applied to members funds were lower than most others (but they charged for setup, seem to recall £300 each but got a 50% discount for the three I set up with them)

No idea if still the case.

I can check online what money I have in my own account with them but rarely bother, maybe once a year at most, the reporting is nowhere as good as I get with my SIPP (HL) but then again I pay them circa £200 every year.

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Replying to DJKL:
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By Truecon
10th Nov 2021 15:21

Thanks DJKL- will look into peoples pension also

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By paul.benny
10th Nov 2021 16:58

Rather agree with the lion.

Pensions are not a one-size-fits-all choice. Appropriate risk profiles both vary with age and risk appetite. Many will take the default fund but some will take a more active approach. A few will make AVCs. Etc.

I understand a desire to do the best for your employees. And that should include taking financial advice from people whose business is giving that advice.

I'd also be a touch wary about making those choices myself lest I stray into regulated activity that I'm not licensed to carry out.

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Replying to paul.benny:
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By Truecon
10th Nov 2021 17:02

Have to disagree again, yet understand your point.

maybe this is due to how specific the question is, I'm looking for published reports on annual rate of return for auto enrollment schemes, not financial advice.

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Replying to Truecon:
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By paul.benny
11th Nov 2021 08:44

So having got that information, what will you do with it?

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Replying to paul.benny:
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By Truecon
11th Nov 2021 14:33

Would you like my sort code and account number too?

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