Stand Number: 266

Opt Pensions

Established specifically to meet the demands of auto enrolment.

Opt Pensions recognise that when it comes to auto enrolment, there isn`t a one-size-fits-all formula for success. Our system, known as Root, aims to provide a user-friendly online solution with tailored access for members, employers and advisers.
Root has been designed by Opt Pensions using its extensive experience in the pensions industry and offers a unique online Auto enrolment service.

Opt Pensions is a trading style of Opt Corporation Limited and is part of the Harwood Group. We were established specifically to meet the demands of auto enrolment and to assist small to medium sized companies with their new workplace pension responsibilities. We do this by:

• Offering a guaranteed acceptance workplace pension scheme for automatic enrolment through our master trust, The Open Pension Trust.
• Having a team of locally based Regional Development Managers ready to assist employers and their advisers with their auto enrolment responsibilities.
• Providing access to our online pension portal called ROOT. ROOT was specifically developed to support the automatic enrolment requirements for advisers, accountants, employers and employees. Simplicity is the key when it comes to Root and we have found, working with various clients, this has been well received.

Our Master Trust, The Open Pension Trust (OPT), which is regulated by the Pensions Regulator, is run by 3 professional, independent firms of trustees, thus ensuring the highest standards of scheme governance. OPT and its trustees provide a secure environment for members` savings, with a charging structure comfortably below the charge cap for Workplace Pension schemes.

In May 2017, Opt Pensions were delighted to obtain independent Master Trust Assurance from Assure UK with no exceptions noted.
MAF was developed by the Institute of Chartered Accountants in England and Wales, with the Pensions Regulator. Trustees use it to evaluate their pension scheme, and demonstrate compliance with control objectives for governance and administration. MAF stipulates how independent accountants should assess the operational effectiveness of a master trust`s controls and procedures. These objectives are designed to be consistent with the majority of the quality features in the Regulator`s DC code of practice and with DC regulatory guidance. MAF enables trustees to demonstrate their trust is managed to the highest of standards.
In order to achieve this accreditation, the design and operating effectiveness of the scheme`s control procedures must be assessed by an independent reporting accountant, commissioned by the trustees. The framework follows the six principles listed below:
• Essential characteristics: Schemes that operate fairly and are designed to be durable whilst delivering desirable outcomes for members.
• Establishing governance: Schemes that establish a comprehensive governance framework, where accountabilities and responsibilities are made clear and transparent from the start.
• People: Scheme decision-makers have a solid understanding of their obligations and the competency to ensure their duties are actioned accordingly.
• Ongoing governance and monitoring: Schemes that have in place effective governance and are monitored through their entire life cycle.
• Administration: Well administered schemes with comprehensive processes, and timely and accurate records.
• Communication to members: Schemes that ensure communications to their members are clear, enabling them to make well informed decisions about their investment.

From start to finish, Opt Pensions will manage your needs and provide a highly compliant, well-functioning workplace pension scheme that you can rely on to fit all of your auto enrolment requirements. At Opt Pensions we will provide you with not only compliance, but compatibility, and the reassurance of knowing your workplace pension is in safe hands.

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