Scottish Life is this week launching an automatic enrolment proposition targeting financial advisers.
The provider’s offering allows advisers to determine the legal duties an employer will have, review their existing scheme and model different scheme designs.
It then supports them in setting up a pension scheme for auto-enrolment and provides an online service to guide employers through the tasks they need to complete to remain compliant with the new rules.
Scottish Life business development manager Jamie Clark (pictured) 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 auto-enrolment for each individual client; it offers experienced planning and implementation support; and it delivers a comprehensive package of ongoing services.”
Scottish Life managing director Ewan Smith says: “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.”
Radcliffe & Newlands chartered financial planner Mel Kenny says: “Auto-enrolment is a huge challenge, particularly for small and medium sized business.
“Employers and advisers will need support over the next few years and it looks like Scottish Life are at the forefront of providing adviser solutions in the face of major change.”