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Scottish Widows launches auto-enrolment planning tool for advisers

Scottish Widows has launched an automatic enrolment planning tool designed to help advisers manage their employer clients.

The new tool provides advisers with a template for taking employers through the auto-enrolment process.

It splits auto-enrolment into stages and tasks, setting costs for adviser fees for the tasks they take on and giving each task a ‘red’, ‘amber’ or ‘green’ status to indicate whether it is likely to be completed on time.

Widows says the tool has been developed to help advisers serve the estimated 30,000 employers who will reach their auto-enrolment staging date in 2014.

Scottish Widows key accounts pension development manager Robert Cochran says: “The challenge for employers in complying with their automatic enrolment responsibilities is proving to be greater than many had originally envisaged and they are turning to advisers in increasing numbers to help support them through the changes. 

“Feedback from our seminars indicates that some of the biggest challenges facing advisers is getting employers to understand the sheer size of the job of complying with the auto-enrolment rules and agreeing new auto-enrolment employer fee models.

“We have therefore developed this new tool with that in mind, offering the ability to develop a project plan for employers that will also double up as a fee charging solution. To make life easier we have pre-populated the plan with a range of tasks and issues that need to be dealt with for a successful auto-enrolment experience.”


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