Sterilin Switches to New Stakeholder Pension Scheme

It has recently been announced that Sterilin, a UK-based manufacturer and supplier of various premium quality disposable plastic equipment for the life science market, will introduce a new stakeholder pension scheme.

The contributions to the pension plan will be paid via salary sacrifice. The decision came as the company switched its pensions’ provider from Prudential to Johnson Fleming, a leading corporate pension, group risk and healthcare service provider.

The terms of this half-private pension scheme will remain the same as Sterilin will put 7.5% in employer pension contribution provided that the employee pays a minimum of 4%.

Commenting on the changes that are supposed to be enforced as soon as this month, human resources manager at Sterilin, Mr. Nichola Morden-Tew, said that the firm will soon hold a series of seminars dedicated to stakeholder's pension. Morden-Tew also added that the good point about Johnson Fleming is that it is able to meet the employees of the company, which is a 3-shift business, at any time between 8 and 12 am.