Scottish Life, the pensions specialist arm of the Royal London Group, is launching its comprehensive automatic enrolment (AE) proposition this week. Based on three key elements – Design, Implement and Run – Scottish Life has developed the ideal solution for advisers and their corporate clients to use in the new AE environment.
Ewan Smith, Managing Director of Scottish Life, said: “Automatic enrolment is a major opportunity for providers and advisers alike. But it’s essential to understand what the key issues are, and to develop and implement effective solutions that meet customer needs.
“Over the past couple of years, Scottish Life has spent a lot of time with advisers and employers, identifying what the “needs” are; then developing and market testing practical solutions. I’m confident that we’re offering a market-leading AE proposition, based on Scottish Life’s proven strengths of service1, investments2 and product excellence3.”
Scottish Life’s AE proposition has three core elements:
– Design – a full design service allowing advisers to determine the duties an employer will have; review their current scheme; and model different scheme designs.
– Implement – expert implementation support to get the scheme up and running with minimal disruption.
– Run – an enhanced online service that will guide employers through all the tasks they need to complete to stay compliant with their duties.
Business Development Manager, Jamie Clark, says: “The single most important message about automatic enrolment is that it’s not just about pensions: it’s about business planning.
“With help from advisers and employers, Scottish Life has developed the complete solution for advisers to use with their corporate clients. It enables advisers to identify the most appropriate approach to AE for each individual client; it offers experienced planning and implementation support; and it delivers a comprehensive package of ongoing services.
“And while AE is a much bigger issue than is sometimes understood, having a quality group personal pension, from an experienced multi-award winning provider, should give additional peace of mind.”
Ewan Smith added: “There’s one other message we hope advisers will take on board; don’t delay! There’s no point in waiting. Employers need support now, well ahead of their Staging Date. Scottish Life is ready, and we’re keen to help you take advantage of the opportunities.”
