If this change impacts you, you should have received a letter in late December or early January, and we will write to you again in March.
Here you can find out more about this change. We also encourage you to read our Frequently Asked Questions carefully.
You can find out more about this change below.
Why is provision changing?
Pension savings are an important investment, and we regularly review our pension schemes to make sure that everyone has access to market leading provision. We believe that Standard Life now offers the best option for all employees.
Standard Life benefits include a strong default investment strategy as well as a wider range of investment options. Standard Life fees are also lower meaning that more money is invested directly into your fund.
Easy access to your fund via the Standard Life portal and app will help you keep you up to date with your pension savings. It also makes selecting different investment options easy.
Who is impacted?
Anyone who has joined Amey from 1 January 2025 will be offered the Standard Life scheme. From March, any employee currently in the People’s Pension will automatically become a member of Standard Life.
If you are currently a member of Standard Life, this change does not impact you.
When will this happen?
Final contributions to the People’s Pension will have been taken from your pay at the end of February 2025. This will be paid into your fund with the People’s Pension in March.
Your first contribution to Standard Life will be taken from your pay in March 2025. This will be paid to your Standard Life fund in April.
What do I need to do?
We will manage this important change for you. However, once enrolled in Standard Life, there are some important things for you to consider.
Death before retirement
You will need to decide who you would like to receive your pension if you should die before you reach retirement age. Standard Life will explain how to nominate someone.
Existing funds saved with the People’s Pension
This pension pot will stay with the People’s Pension. It will continue to be invested in the same funds. You may want to transfer your People’s Pension pot to your new Standard Life fund. Standard Life will provide information to help you understand your options.
This is an important decision and one you will need to consider carefully. You may want to take financial advice to help you with your decision.
What happens next?
We will write to everyone impacted again in March to remind them of the change.
Standard Life will then write to those impacted in April confirming membership, how to review your pension contributions and how to access your pension details via the Standard Life app or web portal.
Please do watch out for any letters or emails and read the information carefully.
Where can I find out more?
We ran webinars with Standard Life on 12 and 13 February. To watch a replay of the webinar, please click here. Each webinar covered the same information, so you only need to watch a replay of one session.
You can also find out more by reading the FAQ.
If you need further information, you can find more Amey, Standard Life and independent pensions guidance through:
Email: PeopleServices@amey.co.uk
Call: 0800 521 550 (and select option 2)
Standard Life / Amey microsite