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Sandwich retailer signs with The People's Pension

25 September 2012

Image for Sandwich retailer signs with The People's Pension

B&CE's The People's Pension has been appointed by a large sandwich retailer in the UK to manage its auto-enrolment offering.

The new contract, with Pret A Manger, will see to it that The People's Pension takes care of the auto-enrolment of the company's 5500 staff (of which an estimated 4000 is eligible) and ensures administration and communication issues are dealt with.

Pret A Manger, which employs many foreign workers, has previously discussed the difficulties of offering a pension scheme to such a diverse workforce.

Talking to Pensions Week, B&CE's director of finance and strategic delivery, Patrick Heath-Lay said that The People's Pension was looking forward to working with the retailer. The pension provider is understood to have signed roughly 100 companies to its auto-enrolment offering, which will go live in November. According to Pension Funds Online, B&CE currently provides pensions to over 1.6 million people.

The People's Pension's latest announcement comes only a few weeks after the company signed a contract with social housing provider MEARS, the company's first customer from outside its usual construction-based client base.

As the clock is ticking towards 1 October, large companies find itself under increasing pressure to comply with the upcoming auto-enrolment regulation.

First published 25.09.2012