Scottish Equitable is adding a faster and more accurate payment facility to its web-based administration system.
Part of the SmartScheme system, the SmatPay facility allows monthly contributions to be set up via the web either electronically from most types of payroll system or by entering information on to a web page.
Scottish Equitable says contributions can be applied to policies more quickly and accurately greatly easing the administration burden for employers and financial advisers.
Scottish Equitable head of group pensions marketing Colin Bell says: “SmartScheme as a whole offers the best beginning to end service when it comes to setting up and running new group business and has slashed processing times from months to days. A group scheme set up using SmartScheme and making use of both streamlined joining and SmartPay will see significant service improvements.”