LADBROKES PLC APPOINTS LEGAL & GENERAL WORKPLACE SAVINGS TO ADMINISTER AUTO ENROLMENT PENSION SCHEMES.
13 December 2012
Legal & General Workplace Savings has been selected by Ladbrokes to administer a new pension scheme, which will be part of their auto enrolment staging in Q1 next year.
The new group scheme is a trust based DC scheme that will be available to 14,000 eligible Ladbrokes employees who will be auto enrolled from 1 March 2013.
Phil Rixon, Ladbrokes Pensions & Benefits Manager, said: “We are pleased to confirm that Ladbrokes have appointed Legal & General’s MasterTrust to provide a pension scheme with effect from 1 December 2012.
We are particularly impressed with Legal & General’s commitment to a long term partnership and to focus on colleagues’ retirement outcomes through their support for members in both growth and decumulation phases.
The appointment of Pitmans to the Master Trust’s Trustee board is further evidence of their compelling attitude to governance.”
Legal & General’s Development Director Workplace Savings, Ian Foster commented: “We are naturally delighted to have been chosen to run a new DC pension scheme for Ladbrokes staff.
This appointment reflects the culmination of a 14 month project and Ladbrokes enthusiastic commitment to preparing for auto enrolment is a testament to the collaborative approach to this partnership.
I am confident that we are ready to meet the challenge of auto enrolling thousands of eligible staff in a few months time. Our Workplace Savings business has already successfully staged several large employers in the UK.”
Workplace Savings was named Auto Enrolment Provider of the Year by the UK Pensions Awards (May 2012) and Corporate Platform/Wrap Provider of the Year in the Professional Pensions Awards (June 2012).
Notes to editors
Founded in 1886, the name Ladbrokes is today synonymous with betting and gaming with annual stakes in the region of £16bn per year. Ladbrokes is a market leader in retail bookmaking in the UK, where it employs over 14,000 people and 2,127 betting shops. The Company also operates betting facilities in Ireland, Belgium and Spain.
The Legal & General Group, established in 1836, is one of the UK’s leading financial services companies. As at June 30 2012, we were responsible for investing £388 billion worldwide on behalf of investors, policyholders and shareholders. We also had over seven million customers in the UK for our life assurance, pensions, investments and general insurance plans.
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About Legal & General
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Registered in England 166055.