Nelsons increases take-up of group personal pension plan and introduces salary sacrifice

Nelsons has increased the take-up of its group personal pension (GPP) scheme and introduced a salary sacrifice arrangement after an extensive communications campaign.

The natural medicines provider, which re-launched its GPP between February and March, now has 67% of its employees saving into a pension, compared to 49% previously. Almost three quarters (71%) of members are now on target for the pension they desire. Previously 79% were not on target for their retirement.

The average employee contribution is now 5.4%, up from 3.5% previously, and 95% of employees are making savings through salary sacrifice. Nelsons, which employs 180 staff in the UK, reinvests 6.9% of the employers’ national insurance (NI) savings back into the employees’ pension pot.

The firm, advised by Secondsight, communicated the new GPP by offering one-to-one pension advice and hosting group presentations at sites around the UK.

Simon Rickatson, head of HR at Nelsons, said: “We want all of our employees to see the pension and benefits package as an attractive proposition, no matter where they work within the business.

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“It was therefore important to communicate the pension to staff in a way that increased their understanding, as well as securing them a comfortable retirement. This is why we choose to provide face-to-face advice.”

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