2. In addition, the 2014 Budget considerably extended
the freedoms and choices available to DC savers when
considering how to start drawing their pension benefits;
from traditional annuity through regular withdrawals
through to total encashment.
With the number of pension savers in DC pension plans
increasing exponentially, the Pensions Regulator has quite
rightly prioritised the management of both the benefits and
the risks inherent in DC pension provision.
There is a clear focus on significantly improving the general
level of DC governance – ensuring that employers and trustees
manage their DC plans in line with best practice, in order to
maximise the prospect of achieving ‘good member outcomes’.
Ensuring good governance and good member outcomes from
DC plans is now mandatory and many employers are looking
outside for help to deliver to the new standards.
In light of these developments, we have brought together our
consultancy skills, administrative know-how and proprietary
technology propositions to create Atlas, a DC MasterTrust,
built to address the 21st Century challenges of pension
planning for both employers and their employees.
The auto-enrolment legislation is
drawing more and more employers and
their employees into pensions and for
the vast majority this saving will be through
a DC pension plan as the decline in defined
benefit pensions (DB) continues unabated.
Good governance…
from DC plans is now mandatory
The future of UK pension provision
3. Our approach to DC pensions is founded
on three pillars; beliefs that will ensure
a pension plan delivers the best possible
value for members:
Service
The delivery of a plan must be through robust, proven and
scalable technology and an operational platform supported
by an experienced and highly capable team of administrators.
Governance
A strong, expert and independent trustee board is essential,
adding value and insight through its management of the plan.
Engagement
A structured and focused framework of member support
and guidance is vital to achieving member engagement.
Atlas Master Trust
A professionally governed, multi-employer,
trust-based pension plan, Atlas is designed
to meet the exacting requirements of
the Pensions Regulator and the needs of
employers while providing the opportunity
for its members to accumulate assets in
a quality pension arrangement with access
to all of the new flexibilities on drawing
benefits; easily, engagingly and
on competitive terms.
Through this single plan employers and
employees receive a complete end-to-end
service from contribution collection through
to benefits’ payment.
Introducing
4. efficient
investment strategies
scalable
delivery
Atlas
engaging
member experience
improving
member outcomes
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Capita
operational
excellence
effective
governance
next generation
technology
To ensure this we have created a framework of governance headed by
a board of independent trustees. Going beyond the requirements of
the Pensions Regulator, we determined early on that our board of trustees,
the governors of the Atlas MasterTrust, would all be:
Atlas will fully comply with the new voluntary audit assurance framework for
occupational DC MasterTrusts as defined and monitored by the Institute of
Chartered Accountants of England and Wales (ICAEW). In addition Atlas will
also participate in the Pensions Quality Mark voluntary benchmarking
sponsored by the National Association of Pension Funds (NAPF).
Independent of Capita
Demonstrably leading experts in the field of pensions
Focused on adding value for members
Strong governance
is absolutely fundamental toAtlas
Not only to meet the requirements of
the Pensions Regulator but also to provide
employers with the assurance that
their employees and their money
are in safe hands.
5. Capita Employee Benefits is the largest
UK-owned employee benefits consultancy
and an award-winning provider of pension
administration services.
We currently administer pensions for over 4 million scheme
members across both the public and private sector.To put it
another way, over 1 in 10 working people in the UK already
have a pension looked after by us.
The Atlas MasterTrust plan is administered by the specialist
DC team using our proprietary administration system. A highly
automated system, it was first developed some forty years
ago and has constantly evolved with the changing pension
legislation ever since.
Working alongside our administrators, is an experienced
team of developers and programmers to ensure our system
stays up-to-date and reactive to the needs of our clients
and their employees.
Atlas is underpinned by an award-winning
administration capability with proven
scale and technology.
Part of good governance is ensuring
that members get good value for
their money.
For those employers who require assistance with
the complex requirements of automatic enrolment, Atlas
offers a comprehensive ‘middleware’ solution: linking
payroll to pension seamlessly and delivering all
the necessary information to employees.
Our administration system is seamlessly integrated into our
online benefits portal, Orbit.
Orbit provides members with real-time online information
around the clock that can be accessed by any web-enabled
device: PC, laptop, tablet or phone.
For employers, Orbit is also their essential online
management information tool, maintaining member
details, automatic enrolment records and bespoke reports.
We fully support the drive for
fair and transparent
charges
Following an investigation into pension charges,
the Government has introduced from April 2015 a charge
cap equal to 0.75% of members’ fund for any pension
scheme that is used to fulfil an employer’s automatic
enrolment responsibilities.
Atlas will apply a single annual fund charge that will be clearly
explained at outset and throughout the life of the plan.
By taking advantage of our bulk purchasing power, experience
and highly automated administration, we are able to offer
highly competitive rates.
Alternatively, if a participating employer would like to
meet some of the member-borne charges, this can also be
facilitated.
We can discuss which additional services employers are
interested in so we can agree a transparent charging structure.
Proven administration experts
6. Atlas is the future
Saving is the journey
Insight into the member experience
7. Atlas is the future
Saving is the journey
The first step
Hello, it’s time to start your journey.
You’re packed and ready to go.
But…have you checked your route?
1
Get in gear
Insight into the member experience
8. Insight into the member experience
It’s the compass that will lead you on your
journey. Tomorrow, today. It’s cloud based
technology that manages your savings.
It’s clever and all about you.
It’s built for people, by people who really
care. Atlas and Orbit – the future in
your hands.
Orbit as your guide
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2
Accelerate
9. Insight into the member experience
3 Cruise
control
You can drive or be driven, but
it pays to keep an eye on the road.
When you and your employer put money
into your account, the money is invested
in different investment funds.
You’re in control Different investment funds invest your
savings in different countries, industries
and assets, but each one is trying to use
your savings to make more money for you.
You can choose which funds your savings
are invested in. Atlas also offers some
preselected combinations of funds that
you can choose to invest your savings in.
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A savings map
to your future
10. We speak your language
We try to inspire feeling, rather
than just imparting information.
We don’t talk about ‘retirement’, we talk
about ‘your future’. We speak with the
voice of a trusted friend and mentor. Our
choices of wording are still professional,
but we wear our expertise lightly.
Our language is persuasive, and attempts
to nudge users into taking action. Our
language is also quite informal, especially
online, and we speak using conversational
rhythms.
We try and connect what we’re saying to
one of these ideas to get the maximum
emotional impact. For example, if we were
writing a paragraph, we would use the
heading to appeal to emotion, then get
the facts over in a clear and concise way,
and then in the final sentence put it back
into context for the reader.
Insight into the member experience
4 Get in lane
11. Insight into the member experience
5 Welcome
to your
destination
YOUR FUTURE
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After all your planning and saving, you
eventually arrive at your destination
ready to enjoy your long-term savings.
But what happens to your personal
account when you get there? As
a member of Atlas, you get to choose
how to spend your personal account.
What options do I have?
New rules came into effect in April 2015
and allow far more flexibility for you.
You’ve arrived The new options mean that you need to
really think about how you might want
to take your benefits in the future, as this
could affect how much you pay in now, and
how you might need to invest your funds
during your working life so you can give
them the best boost you can.
Remember that retirement and retirement
planning are about three things:
1. What you love
2. Having something to look forward to
3. Your health
12. For employers only.
Capita Employee Benefits is a trading name of Capita Employee Benefits Limited and Capita Employee Benefits (Consulting) Limited. Part of Capita plc. www.capita.co.uk.
Capita Employee Benefits Limited and Capita Employee Benefits (Consulting) Limited are registered in England & Wales No: 02260524 and 01860772 respectively.
Registered Office: 17 Rochester Row, Westminster, London, SW1P 1QT. Separately authorised and regulated by the Financial Conduct Authority.
To find out more, please contact your Capita consultant
or email: atlasmastertrust@capita.co.uk
Employee benefits
