We use cookies to support features like login and allow trusted media partners to analyse aggregated site usage.
To dismiss this message and allow cookies to be used, please click "Continue".

Continue

Twitter board

Follow us
  • As LDI strategies are gradually being replaced by CDI approaches, how are pension schemes managing the additional r… https://t.co/rlMnrBmr1d15 hours ago
  • Friday View: Pension funds challenge corporate climate lobbying - ExxonMobil faces legal action - Pensions minister… https://t.co/nQKGH1YzYD3 days ago
  • Friday View: EMD: Fear of the Fed - GMP ruling to narrow gender gap - UK funds in demand - https://t.co/yyOrkcnxXj https://t.co/St9t8YPNEx10 days ago
  • Emerging market debt is rapidly becoming a local currency market, but investors are still nervous about a US rate r… https://t.co/3coGF5Dq8n11 days ago
  • Have you seen our latest roundtable? We brought fund managers, consultants and trustees together to discuss emergin… https://t.co/BMLta4c9pm14 days ago
  • Friday View: Backing the disruptors – Border to Coast boss on collaboration - TPR and FCA join forces - Treasuries… https://t.co/phYJ07nFNj17 days ago
  • Does the turbulence hitting stock markets at a time of rising bond prices mean it is time to ditch multi-asset fund… https://t.co/GiSdFpE01N20 days ago
  • Friday View: Backing the disruptors – Border to Coast boss on collaboration - TPR and FCA join forces - Treasuries… https://t.co/H7Wf6UHB3D24 days ago
  • More and more pension schemes are increasing their allocations to private equity, but will the illiquid strategy br… https://t.co/8l8TI75r9v26 days ago
  • Border to Coast Pensions Partnership CEO Rachel Elwell tells Mona Dohle about the challenge of developing a common… https://t.co/nQZfFveQdz27 days ago
  • Out now- The portfolio institutional October issue featuring our cover on ESG and fixed income: Breaking new ground… https://t.co/hnmwYclXS528 days ago
  • Friday View: ESG in fixed income: The new frontier - LGPS bolster infrastructure collaboration - EM Roundtable: The… https://t.co/zxvEKaZkoM31 days ago
  • Local government pension scheme (LGPS) pool Border to Coast has appointed the first external managers for its £1.2b… https://t.co/eBAbx0ubzJ31 days ago
  • "Investors seduced by the impressive growth forecasts for emerging market economies should prepare themselves for a… https://t.co/7nAnrL8s7t32 days ago
  • "New RPMI Railpen chief investment officer Richard Williams talks to Mona Dohle about restructuring the scheme’s in… https://t.co/T1Xgvnx6Y435 days ago
  • Friday View: Pension funds turning to smart beta - Europe's fund managers ready for Brexit - Master trust rules rai… https://t.co/wZS8qe41Ci38 days ago
  • "The UK leaving the European Union will have a limited impact of the continent’s fund management industry, a former… https://t.co/tel0BRmGKX38 days ago
  • Pension schemes have had enough of high fees and poor returns. Is smart beta their chance of something better? Re… https://t.co/CzqPANU8D840 days ago
  • Read our latest roundtable where we brought fund managers, consultants and trustees together to discuss diversified… https://t.co/3TRGdybVwX42 days ago
  • Friday View: Lothian's alternative to pooling - Master trusts: The consolidation game - Whistle blower revelations… https://t.co/jbU9tbveK245 days ago

Interviews

“I’m shaming employers into offering their staff a better deal”

“I’m shaming employers into offering their staff a better deal”

Mark Dunne
Friday 2nd March 2018

Salvus Master Trust managing director Graham Peacock outlines his plans to expand the workplace pensions provider’s market share and shares his thoughts on AE.

How big is the Salvus Master Trust?

The potted history of Salvus is that we set up in 2009 to offer defined contribution (DC) services to the Pension Protection Fund (PPF).

That then largely morphed into something for automatic enrolment, where we hit the ground running because we had £30m to £40m from the PPF. We’ve got £100m in the default fund, but across the board we administer £3bn in DC because we’ve got a consultancy, actuarial, pure TPA and we administer other master trusts.

Goddard Perry was the sponsor. It designed all of this. Salvus is a trading name of Goddard Perry Consulting, and within that group we have HS Admin.

The PPF gives us a lot of credibility because other than NEST we’re the only other master trust or workplace pension provider that has some kind of government mandate and it brings us good solid assets. That’s into the non-contributory pot and Salvus is the contributory pot, hence the £100m in contributions.

We have 4,500 employers, small and large, and 50,000 members contributing to Salvus. There’s probably another 30,000 employees within those organisations that are being assessed by Salvus’ platform. We are open to employers even if they have only one member of staff that needs to contribute under automatic enrolment. They might have 30 that don’t, but you need an assessment tool to work out who’s in and who’s not.

They get that for a small fee. It’s rather that than doing the automatic enrolment assessment, or what I call the “ages and wages” of automatic enrolment. “Who’s old enough and who’s over the trigger threshold for contributions?”

Even more people potentially will come into the pension through the little-known opting-in. We’re working on that to drive engagement.

You might be under the age of 22, or maybe you don’t want to wait for the government to cut that to 18-years-old and start now. That will boost our assets quite significantly, we suspect.

Is that assessment tool something you have created? The assessment is a pre-programmed platform. We designed it ourselves and programmed in all of the automatic enrolment rules.

You simply upload a file if you’re an employer and it will tell you who is eligible and needs to be enrolled and who needs to be given the right to opt-in. They can join the pension scheme if they want and that’s an automatic enrolment duty that The Pensions Regulator puts on every employer.

Well, they don’t all have to do it, but every employer has to show their records for all of this. People’s Pension doesn’t offer this, NEST doesn’t offer this. SMART Pensions is probably one of the other master trusts that’s followed our lead and copied that assessment solution. So you get employers who might not be contributing much today, but the hope is that they will later on.

That deals with letters of postponement notices, it deals with every statutory communication that an employer must send to their employees. There are about 500 pages of employer guidance for automatic enrolment. They can either read all that or they can come to us and use our software. Our software pretty much puts all that into play for them.

Page: 1 2 3 4 5
0

Leave your comment

View our comments policy

Please login or register with us to leave a comment. It's completely free!