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Published:
22 September 2011
Category:
News
The JIB Pension Scheme, which was set up in 1988 to provide pensions for employers operating in the electrical industry, is changing its name and branding.
The new and improved BlueSky Pension Scheme (‘BlueSky’) will take form on 1st October 2011 and is being communicated to employers and employees during August and September this year.
‘BlueSky’ aims to provide a ‘pensions partner’ to operate an enhanced alternative to the National Employment Savings Trust (NEST).
In light of the changes in the UK pensions landscape, ‘BlueSky’ will be establishing 2 new member websites, a low cost 1% contribution option for new employers and their employees together with a new range of flexible target date funds, as the default investment option.
Paul Bannister, Chief Executive of BlueSky Pension Scheme, commented ‘we have undertaken a complete overhaul of our scheme in advance of auto-enrolment, to ensure that we continue to offer the best possible solutions for our employers and their members. ’The introduction of new contribution and investment options ensures that ‘BlueSky’ will offer employers a ‘qualifying workplace’ pension scheme ongoing.
Jessica Battersby, Operations Leader and Andrew Semple, Administration Leader, are reviewing ‘BlueSky’ processes to ensure that the new options are incorporated efficiently and the system is future proofed in readiness of the major changes occurring in the pensions industry.
The appointment of AllianceBernstein as a default fund provider and the introduction of flexible target date funds is a critical component of that project.
Tim Banks, Head of DC Client Relations at AllianceBernstein said ‘we are absolutely delighted to be working in partnership with the BlueSky Pension Scheme, our solution allows greater investment sophistication, a clear governance framework, which is simple for members to understand, at low cost.’
Further information can be found at www.blueskypensions.co.uk
‘BlueSky’ aims to provide a ‘pensions partner’ to operate an enhanced alternative to the National Employment Savings Trust (NEST).
In light of the changes in the UK pensions landscape, ‘BlueSky’ will be establishing 2 new member websites, a low cost 1% contribution option for new employers and their employees together with a new range of flexible target date funds, as the default investment option.
Paul Bannister, Chief Executive of BlueSky Pension Scheme, commented ‘we have undertaken a complete overhaul of our scheme in advance of auto-enrolment, to ensure that we continue to offer the best possible solutions for our employers and their members. ’The introduction of new contribution and investment options ensures that ‘BlueSky’ will offer employers a ‘qualifying workplace’ pension scheme ongoing.
Jessica Battersby, Operations Leader and Andrew Semple, Administration Leader, are reviewing ‘BlueSky’ processes to ensure that the new options are incorporated efficiently and the system is future proofed in readiness of the major changes occurring in the pensions industry.
The appointment of AllianceBernstein as a default fund provider and the introduction of flexible target date funds is a critical component of that project.
Tim Banks, Head of DC Client Relations at AllianceBernstein said ‘we are absolutely delighted to be working in partnership with the BlueSky Pension Scheme, our solution allows greater investment sophistication, a clear governance framework, which is simple for members to understand, at low cost.’
Further information can be found at www.blueskypensions.co.uk