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Scottish Life launches online pension scheme reporting tool

Scottish Life has launched an online tool, “The Red, Amber, Green status report”, which allows advisers to evaluate how their defined contribution schemes are performing against Scottish Life service standards.

The RAG status report provides information such as the yearly review position, details of any outstanding work items and outstanding and unallocated payments.

It enables IFAs to access the Scottish Life system to perform a scheme level “health check”, see how Scottish Life is performing against service standards and view the report online.

The system performs a series of checks and allocates a red, amber or green status to schemes in relation to the relevant service standards. Only one rule needs to be amber or red to change the overall status of the scheme.

Scottish Life head of group servicing Kenny Watson says: “We’re well aware of the importance of customer service to advisers and their clients, when selecting a pension provider. Over the last few years we have made, and are continuing to make, significant investment in our people and systems to improve our customer service offering.

“We could produce many statistics to demonstrate the delivery of our service proposition. But by providing advisers online access to the information we use ourselves to proactively monitor service at scheme level, we’re offering an added level of transparency which we hope will demonstrate our commitment to providing the highest standard of service possible.”

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