The essentials: quality, trusted, tailored
- Employee funds are managed by Aegon Asset Management, one of the largest pension providers in Europe
- Our auto enrolment compliance software simplifies the management and compliance process
- The RIBA Pension is tailored for architectural practices; it is open to all employees, offers a wide choice of funds and freedom to transfer accumulated savings in and out without charge
The RIBA has undertaken extensive due diligence. Over 12 months, we spoke with all the major pension providers in order to source a pension solution that would most benefit our members. We evaluated alternative pension offerings according to three broad criteria:
- Employer: administratively simple, fairly priced and enabling employers to provide their employees with a high-quality pension solution
- Employee: a competitive annual management charge, strong fund governance, choice of funds, portable and flexible
- The RIBA Strategy: in support of Leading Architecture 2012-2016 where we committed to developing financial services products to help practices respond to the challenges facing architects
Our chosen solution comprehensively beat the competitors on the combined criteria.
Who is it for?
The RIBA Pension is available to all architects' practices, whatever their size:
- RIBA chartered practices benefit from a substantial discount on the auto enrolment compliance software
- Sole practitioners are also eligible to join the scheme
Practices can enrol all their employees into the RIBA Pension, whether or not they are architects and whatever their position.
When can you join?
You can join at any time. If you already have an auto enrolment scheme in place and you would like to move to the RIBA Pension, we can help you to transfer. If your staging date is just around the corner - the date by which you need to comply with the auto enrolment legislation - we will help you to meet your deadlines. If you want to join before your staging date, we can accommodate this too.
Ideally, start thinking about the budgetary implications of introducing a pension scheme 6 to 12 months in advance, and submit the application form 3 months in advance of your first contributions. For practices who have left it a little late, we'll do our best to fast track you through the process.
The larger your practice the sooner you have to stage:
| Number of employees
|| Staging date
October 2012 to February 2014
|250 to 50
|| April 2014 to April 2015
|49 to 30
|| August 2015 to October 2015
|| June 2015 to April 2017