Master trust provider Carey Corporate Pensions has launched a new website targeting employers who have left the fulfilment of their auto-enrolment duties to the last minute.
Called LastMinutePension.com, the site offers employers an AE-compliant scheme with a one-off employer fee of £295, although ongoing use of Carey’s compliance portal costs a further £15 a month. Members are charged 0.5 per cent, which covers the AllianceBernstein BirthStar target date fund cost, plus a further £1 a month for active members, equating to an overall AMC of 0.71 per cent.
Carey Corporate Pensions launched its master trust in 2013 and says it is expects to double membership from its current level of over 70,000 by the end of this year.
Carey Corporate Pensions CEO Christine Hallett says: “LastMinutePension.com has been borne out of a growing scenario we’re currently witnessing, where business owners are taking the decision to leave the registration of their new workplace pension to the very last minute. We have built an online platform that allows a business to register their new workplace pension in under 9 minutes, with the full support of our technical team, all for a very low one-off fee.”