Reeves and Co is to streamline its defined contribution (DC) pensions schemes to comply with pensions auto-enrolment.
The accountancy firm will replace its two existing DC pensions with a group personal pension (GPP) following a consultation with a group of staff representatives.
Following its auto-enrolment staging date on 1 February, eligible employees will be able to sign up for free one-to-one sessions with Reeves and Co’s internal financial services division to learn more about the pension arrangement.
On 1 February, all members of the legacy DC pensions will be auto-enrolled into the GPP through the organisation’s Platform B flexible benefits scheme.
The flex scheme, which was launched in March 2013, will be linked to provider Benefex’s Enroller product, which manages the administrative processes of auto-enrolment.
This sends out relevant communications to ensure all employees know how auto-enrolment will affect them.
Employees will also be able to use the system to change their contribution levels and manage fund choices.
Sharron Swann, HR executive at Reeves and Co, said: “We have worked closely with Benefex to design, build and test our auto-enrolment system, as well as develop an engaging and informative communications campaign.
“Employees have now been fully consulted on how the changes will affect them.
“We have tackled the challenge of auto-enrolment by breaking it down into manageable chunks of work. It has also been really important for us to follow a strict schedule so that we know what needs to happen and when.”
