Jelf Employee Benefits has linked with Scottish Widows to launch an automatic enrolment proposition.
Jelf Money at Work is designed to provide employers and their staff with support ahead of auto-enrolment.
As part of the launch, Jelf has negotiated a deal with Widows allowing employers enrolling staff at the minimum of 2 per cent to have their annual management charge calculation based on a total contribution of 8 per cent.
For example, a combined employer and employee contribution of £50 at 2 per cent will incur the lower charges associated with a £200 contribution.
AMCs on the Widows GPP range from 0.5 per cent to 1 per cent, depending on the amount of money the provider expects to receive from each employer. Those employers using Jelf Money at Work will also be able to choose other pension schemes, such as Nest.
Jelf corporate benefits director Alan Millward says: “The deal with Widows allows clients who want to enrol their workforce at the statutory minimum of 2 per cent to access a more competitively priced GPP.”
Informed Choice managing director Martin Bamford says: “With high pension charges currently in sharp focus, this looks like a good deal for employees.”