House of Fraser

Project: Auto-enrolment

House of Fraser, the UK and Ireland’s premier department store group, selected Johnson Fleming to deliver a new Group Personal Pension (GPP) for its 7,000 UK employees.

House of Fraser

The brief

Following a thorough review of the company’s pension arrangements and the closure to future accrual of House of Fraser’s Defined Benefit (DB) scheme, the new GPP had to meet several key objectives, including:

  • Lower charges for active members than had been available in their previous defined contribution (DC) scheme;
  • More effective communications and member support, to reflect The Pensions Regulator’s focus on the importance of employee engagement;
  • Improving administration and scheme governance;
  • Being ready to meet all auto-enrolment requirements ahead of their staging date; and
  • Being suitable for all employees, including their auto-enrolment population.
The brief

The action

We implemented a new GPP for House of Fraser that fully complied with their Workplace Pension Duties. Administration, governance reporting and auto-enrolment is now handled through our scheme management platform, inform+equip

“We wanted to ensure our strong brand and values are instilled through the pension scheme and worked with the communications team at Johnson Fleming to create bespoke literature and engaging launch campaign materials. We have also developed a bespoke pension microsite to enable all employees to manage their retirement planning online and included group presentations and individual meetings as part of our structured communications plan.”

Suzanne Willshire, Pensions Manager 
House of Fraser

 

The action

The results

  • 150% increase in pension membership
  • 35% reduction in active member costs compared to the previous stakeholder scheme
  • 299 one-to-one meetings
  • 43 group presentations
  • 98.9% of employees who attended a meeting/presentation joined
  • 45 real time reporting dashboards
  • 13,962 automated data checks each month.
The brief

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