The firm says the service allows employees to take control of their finances, helping them to make decisions and enabling them to set financial goals and track their progress.
According to Scottish Widows, mymoneyworks is the first service where employees can track workplace benefits alongside their personal finances.
Each employee will be able to monitor their pension, life insurance, savings and investments with a detailed budget summary.
Scottish Widows says it wants the service to improve employee engagement with workplace benefits to help employers retain staff. The online service is supported by a telephone-based contact centre.
Corporate pensions marketing director John Taylor says: “We wanted to approach the corporate pensions market in a different way, starting with the needs of the employee. Mymoneyworks gives employees the ability to take control of their retirement savings and their finances in general.”