Virgin Employer Pensions - We set up, run and promote the scheme for you free of charge
Does my business need to offer a pension?
If you employ five or more people you are legally required to give them the opportunity to join a company pension plan. Fail to do this and you risk a fine of up to £50,000.
Unless you already offer some other recognised company pension scheme, you have to offer your employees membership of a stakeholder pension like the Virgin Pension.
If you are at all unsure whether your business needs a pension, call us on 08456 10 10 66 and we will be pleased to discuss your situation.
What are my responsibilities as an employer?
As an employer you have to choose the pension scheme your employees can join. You also have to provide employees with information about the chosen scheme and, if the employee wants to contribute, arrange payroll deductions to their pension – we can help you with all of this.
Does my business have to contribute?
You do not necessarily have to contribute anything to your employees’ pensions. However, bear in mind that pension contributions are a useful addition to the benefits that attract and retain staff.
Another factor to consider is that, as employer contributions are made before deduction of tax and national insurance, any payments you make would benefit an employee more than a pay rise of the equivalent amount, and cost your business less.
What are the alternatives to a pension like the Virgin Pension?
The Virgin Pension is a ‘stakeholder’ pension, which has guaranteed standards. There are other options, such as arranging your own occupational scheme. This is usually more involved, and normally has higher associated costs for you. Stakeholder schemes are designed to reduce the burden of complexity and expense for you as an employer, while offering clear and useful benefits for your employees.
Why choose the Virgin Pension?
A Virgin Pension combines award-winning service with an easy-to-understand investment approach, for a single management charge of 1%. It offers your employees the chance to benefit from the tax incentives offered by the taxman, plus the flexibility to pay what they like, when they like. All from a name they know they can trust.
Will it take me a lot of time to administrate?
Not at all. We promote, set up and manage the scheme for you, dealing direct with your employees and handling the administration – leaving you to get on with running your business. All you have to do is send us a single monthly payment to cover all contributions from your employees (and from yourself if you are making any employer contributions).
Payment amounts can be changed at any time and we can even tailor the pension so you can reward employees differently if you wish.
How do I manage the scheme?
Our unique online service means you and your staff can run everything over the internet, quickly changing payments and other details online. Or if you would prefer to speak to someone, our team are available by phone six days a week.
What do I have to do when employees join and leave?
Just let us know whenever someone joins or leaves the company and we'll take care of the administration for you.
When someone leaves your company, they simply take their pension with them and you will have nothing more to do with it.
How much will it cost my company to set up and run?
Nothing at all. The 1% annual charge is taken from your employees' individual pension plans.
Like to talk to us?
If you’re interested in exploring a Virgin Stakeholder Pension for your company call us on
08456 10 10 66
Calls may be recorded.
We're here...
8am to 9pm, Mon to Fri
9am to 6pm, Sat.
Sorry, we’re not open on
bank holidays.
