Scottish Life is offering online fund switches for members of its Retirement Solutions range of group pensions.
Users can switch current fund values, redirect future payments or both. Retirement Solutions offers a range of external funds within a 1 per cent cap.
The system allows entrants to existing schemes to be added online. There is also a facility that allows the investment of additional voluntary contributions separately from the main fund and the option to view outstanding new business transaction requests.
Group pensions marketing manager Mark Polson says: “We are aware of the need to continually look for new ways to differentiate ourselves and improve our proposition. By introducing internet banking-style functionality, we are not only giving individuals even more control of their pensions but also keeping Retirement Solutions ahead of the pack.”