An enhanced alternative to NEST for any employer

The BlueSky Pension Scheme (‘BlueSky’), which was originally designed to provide pension benefits for the electrical contracting industry, has extended its enhanced alternative to NEST to be available to every employer and their employees, regardless of their sector from 1st January 2012.

This will build on the past success of ‘BlueSky’ in providing workplace pension solutions to an industry which will benefit extensively by the introduction of automatic enrolment.

The new brand, ‘BlueSky’　(formerly the JIB Pension Scheme) was developed during the year 2011 incorporating Target Date Funds. These were designed　in conjunction with AllianceBernstein and　using their Dynamic Asset Allocation glidepath, have been created to address a combination of factors that will ultimately benefit new and existing members and sits at the forefront of pension scheme investments.

‘BlueSky’s’ Chief Executive, Paul Bannister says: "The electrical industry will still remain at the core of ‘BlueSky’s’ efforts; our decision to expand will benefit those already with funds held within the Scheme by increasing the economies of scale. ‘BlueSky’ has a proven track record in delivering a workplace pension solution that is driven by simplicity, low administration charges and modern, effective communication. ‘BlueSky’ currently provides pension benefits for over 15,000 members and has a strong pensions industry trained team delivering an ‘in house’ feel providing dedicated support for its members."

‘BlueSky’ recognises that one particular area that needs to be addressed is a consistent and more transparent approach to charging. The pensions industry has received ongoing criticism in relation to charging and it is critical that both employers and employees can have a clear understanding of the charges associated with their chosen pension provider. ‘BlueSky’ is already a recognised provider of the lowest cost workplace pension solution of its kind and has the ability to extend its appeal to the wider audience in light of auto-enrolement.

Jessica Battersby has recently been appointed ‘Pensions Delivery Manager’ and it is her role to ensure the existing membership are provided with a cost efficient, high level service of administration during this period of change in the pensions market. Jessica is also focussed on giving support and guidance to employers who require a solution to their auto enrolment requirements with a dedicated ‘Helpline’ already in operation being used by current participating employers.