HDI-Gerling implements group stakeholder plan

The UK Branch of HDI-Gerling, the German industrial insurer, has selected Friends Provident to supply a new group stakeholder pension scheme for its UK employees.

The new scheme replaces the company’s existing group personal pension (GPP) scheme, provided by Aviva, and follows the closure of the HDI-Gerling’s final salary scheme.

All of HDI-Gerling’s employees are eligible to join the new scheme either with immediate effect or at a chosen time in the future.

To ensure a seamless transition of contributions for those employees who wish to join the new scheme, Friends Provident has overseen the changeover process including staff communications.

Richard Taylor, UK managing director of HDI-Gerling, commented: “HDI-Gerling is committed to providing a competitive level of benefits to our employees.”

Russell Welsh, head of UK corporate pensions sales for Friends Provident, added: “We are delighted to support HDI-Gerling in providing its employees with a consolidated, flexible pension offering. In today’s climate particularly, it is encouraging to see an employer fully embrace flexible pension arrangements.”