Now Pensions has linked with group life insurance provider Ellipse to offer life insurance as part of its automatic enrolment package.
The multi-employer trust-based defined-contribution scheme, which is backed by Danish pension fund ATP, will allow employers the option of setting up life insurance cover from Ellipse under the Now Pensions master trust.
Now Pensions chief executive Morten Nilsson (pictured) says: “Employers who are preparing for auto-enrolment are generally reviewing their entire benefits package.
“Providing life cover is an additional benefit which companies can offer at a low cost, and which is valued by their employees.
“This partnership is therefore key in enabling us to give our members access to a complete retirement package of both pension provision and life cover, something which not all providers are able to offer.”