Scottish Life has launched a new proposition to let Independent Financial Advisers tap into income streams inside company-based pension by servicing demand among corporate clients for more extensive employee benefit packages.
The idea of offering a wider range of benefits to employees has traditionally only been taken up by larger, blue-chip companies. But Scottish Life says attitudes are changing and small to medium sized enterprises are increasingly interested in the concept.
Scottish Life's new offering — works4you — is designed to provide IFAs with a way to help their SME clients make the transition to a wider range of employee benefits easily and cost-effectively.
Available exclusively, and at no extra cost, through Scottish Life's range of Retirement Solutions group pension arrangements, works4you is an online employee benefits administration platform, with valuable additional features.
Scottish Life pensions marketing manager Mark Polson says: “We're genuinely excited by the launch of works4you. We believe that no other life office has the capacity to offer a system like this, and at no extra cost alongside their group pension plans. A similar system bought off-the-shelf could easily cost a 100-employee organisation over £10,000 plus an ongoing maintenance cost per member of staff.”