Glossary · UK
What is The People's Pension?
A large multi-employer master trust workplace pension used to meet auto-enrolment duties.
Full Definition
The People's Pension is one of the UK's largest master trust workplace pension schemes, used by employers of all sizes to fulfil automatic enrolment obligations. Like other qualifying schemes, it operates on a defined contribution basis with a default investment fund for members who don't make an active choice, and charges an annual management fee deducted from the pension pot. It is run on a not-for-profit basis by B&CE, with any surplus reinvested to reduce future charges.
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Disclaimer: Definitions are for guidance only. For decisions about your tax, savings, property or pension situation, always consult a qualified professional or refer to gov.uk.