B&CE to transfer EasyBuild members to The People's Pension
B&CE is writing to employers and members of its EasyBuild stakeholder scheme as part of a plan to transfer the scheme's members to The People's Pension.
The not-for-profit financial services organisation said EasyBuild will no longer accept contributions or new members as of 1 September this year.
B&CE said the move to The People's Pension offers a number of advantages to EasyBuild members - including access to a lower annual management charge of 0.5% per annum.
And it said that, unlike EasyBuild, The People's Pension can also be used for auto-enrolment.
EasyBuild currently has approximately 440,000 members, and after the transfer is complete, B&CE anticipates that The People's Pension will have well over three million members.
The move follows consultation between B&CE's management and the independent governance committee for the EasyBuild Stakeholder Pension Scheme.
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