Strength In Numbers
The Scottish Housing Associations' Pension Scheme (SHAPS) includes more than 150 employers and over 7,000 individual members and pensioners. The Pensions Trust, one of the UK’s leading multi-employer pension schemes in the not-for-profit sector, administers the Scheme.
The Scottish Housing Associations' Pension Scheme offers employers important advantages. The economies of scale from sharing administrative costs, legal and auditing services, actuarial fees, scheme documentation and investment costs are considerable.
Pooling monies for a large number of employers allows for a greater spread of investments, reducing the risk of poor returns, as well as bringing savings in investment managers' fees.
Employees who commit to a career in the social housing sector can move between participating employers without having to leave the scheme. This can be a great incentive to recruitment.
Employers who join the Scottish Housing Associations' Pension Scheme should regard their membership as a very long-term commitment. Employers who leave the Scheme must recognise that legislation imposes a debt to the Scheme which is calculated on an extremely expensive basis.