We have changed this section of the Website to provide HR colleagues with all the information they need to assist members with all types of pension queries; from joining the Stakeholder Pension scheme to drawing their retirement benefits.
We have included details of the Legal & General Work Place Consultants who are on hand to assist you with any Stakeholder or SIPP queries.
We have also put into one place the various documents colleagues need to complete for both the Stakeholder scheme and the Sainsbury’s Pension and Death Benefit Schemes.
Legal & General Work Place Consultant HR Guide
We have included in the Pay, benefits, allowances and expenses section of HR People Policies a Legal & General Work Place Consultant HR Guide. The guide explains the role and purpose of the Legal & General Work Place Consultants (WPCs). Click here to view guide
The earliest date that members of all pension schemes can take their pension is changing to age 55 from 6 April 2010. This means that colleagues wishing to retire before age 55 needs to get all the completed pensions paperwork returned to the Pensions Department as soon as possible. The Pensions Department will include a copy of this flyer with all early retirement estimates that are requested by colleagues who are under 55. If you know of any colleague thinking of retiring early who is under age 55, please make sure that they know about these timescales; the government rules mean that we won’t be able to backdate a pension if a colleague is under age 55 from 6 April 2010
Pension Induction
All stores and supply chain should have the following:
• Introduction DVD "So who needs a Pension?"
• Disc calculators
• 'It costs less than you think' leaflets
• A Guide to Sainsbury’s Pensions
Induction Video
The JS Stakeholder induction video "So who needs a Pension?" has been changed to a DVD format and has been issued to all stores. If you have not received a copy or you do not have any of the above please contact the Sainsbury’s Pensions Department on
020 7695 0461.
JS Self Invested Pension Plan Guides
From May 2008 the JS Executive Stakeholder Scheme has been replaced by the JS Self Invested Pension Plan.
Disc Calculators
Please ensure everyone has a chance to use the disc calculators that illustrate just how much a colleague will miss out on if they don't join the pension.
SMART
On joining, you need to update EPICs/ORACLE with an "L" for Legal & General and this will inform payroll to deduct a 4%, SMART contribution. The SMART joiner form or non-SMART joiner form for those wishing to opt out of SMART must be retained by you in the colleague's file. If the colleague completed the non-SMART joiner form or wants to pay 5% or 6% contribution rate you need to inform pay roll by email once you have set the colleague up on the system.
