"The Pensions Regulator has given us their stamp of approval and a listing on their website, which is a valuable resource for companies looking for a provider."
Wealth Management firm, True Potential, has been listed as an approved provider of workplace pensions by The Pensions Regulator.
True Potential is one of just two providers of group personal pensions in the UK to be approved by TPR and listed on its website.
TPR only lists providers that accept all types of employers, regardless of how many people they employ.
True Potential was approved by TPR because it provides free AE technology services to the entire market and accepts all contributions in line with AE minimums. The firm currently powers schemes for around 8,000 employers and over 58,000 employees across the UK.
True Potential says TPR’s list is a lifeline to very small firms who may have struggled to find a provider in time to meet their deadline, meaning they could be fined.
Neil Johnson, senior partner at True Potential said: “The Pensions Regulator has given us their stamp of approval and a listing on their website, which is a valuable resource for companies looking for a provider. We don’t think auto enrolment should be a complicated process. That’s why we have built a system that is quick to set up, easy to use and free. It works equally well for a business with one employee as it does for one with 1,000.
“Lots of businesses have embraced auto enrolment and want to offer the best services to their staff. They like our system because it enables their employees to engage with their finances, see how they are performing and make top up payments whenever they want to."
The roll out of workplace pensions nationwide began in 2012 and it’s estimated that up to almost 900,000 employers in the UK are still to roll out workplace pensions under automatic enrolment.