About People's Pension
The People’s Pension is one of the UK’s largest workplace defined contribution pension schemes, designed to help employers meet their auto-enrolment pension obligations under UK law. It operates as a master trust, meaning multiple employers can use the same pension scheme, with independent trustees overseeing members’ savings on their behalf.
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Perkwise Insight
The People's Pension is the UK's largest not-for-profit master trust workplace pension scheme, purpose-built for the auto-enrolment era. Launched in 2011 specifically to help employers meet their auto-enrolment duties, it's designed around a simple philosophy: workplace pensions should be straightforward, affordable, and focused on member outcomes rather than shareholder profits. Unlike commercial providers extracting profits for shareholders, The People's Pension operates as a not-for-profit organization, meaning any profits generated go back into improving services and reducing charges for members.
SMEs
Banded annual management charge from 0.23-0.50%
7m+ members and 100k+ employers
Key Features & Benefits
Banded Pricing Structure
Charges 0.50% annually on the first £3,000 in your pot, 0.35% on amounts between £3,000-£20,000, and just 0.25% on amounts over £20,000—meaning your percentage fee automatically decreases as your pot grows.
Traditional flat-rate percentage fees mean you pay proportionally more in pounds and pence as your pot grows. The People's Pension's banded structure means an average earner could save approximately £28,000 over their working life compared to a flat 0.50% fee, or £54,000 compared to the 0.75% cap.
Master Trust with Independent Governance
Operates as a trust-based structure with an independent Board of Trustees who have legal duties to act in members' best interests, regularly review fund performance, monitor value for money, and oversee provider decisions.
Trust-based structures provide an additional layer of member protection versus contract-based schemes where the provider makes all decisions. For employers, this independent oversight reduces governance burden since you're not responsible for investment decisions.
Education and Financial Wellbeing Resources
Provides members with educational content explaining how workplace pensions work, the benefits of tax relief, retirement planning basics, and tools to understand their retirement options. Regular communications keep members engaged with their pension rather than treating it as a "set and forget" deduction.
Pension engagement is notoriously low, with many workers not understanding how much they're actually saving once tax relief and employer contributions are included. Higher engagement can materially improve retirement outcomes through higher voluntary contributions.
Implementation & Support
Setup Process
- Online Application
- Payroll Integration
- Member Enrollment
- Go-Live Support
Technical Requirements
- Compatible payroll software (integrates with all major UK providers)
- Internet access for employer portal and member accounts
- Basic employee data (names, NI numbers, addresses, earnings)
- Bank details for contribution payments
Support Options
- Phone Support
- Online Help Centre
- Email Support
- Employer Portal
- Dedicated Account Management
- Mobile Access
- Webchat