Acevo has launched a pension scheme for its members.

The scheme, called the Acevo Member Pension scheme, has been created in partnership with financial advisory firm Foster Denovo and pension provider Aegon.

It has been launched in light of the upcoming legislative changes around pensions.

Ian Bird, equity partner at Foster Denovo, said: “The pensions landscape is currently undergoing a period of significant change, and the introduction of pension reform from October 2012 means that, for the first time, employers will have to offer a workplace pension and contribute towards eligible employees pensions.

Commenting on the new scheme, an Acevo spokesman said: “The charging structure of the scheme will significantly undercut the standard one per cent annual management charge on pension schemes.”