Scottish Widows has linked with B&CE’s ‘The People’s Pension’ as the provider finalises its proposition ahead of automatic enrolment.
The framework will allow employers to offer their workforce two pension arrangements – the Widows group personal pension and the B&CE offering – through a single proposition. Widows already has a similar arrangement with Nest.
Scottish Widows head of corporate pensions proposition Peter Glancy says: “We are putting in place a series of major building blocks which will form our auto enrolment proposition, designed to operate in the world beyond the retail distribution review.
“The partnership with The People’s Pension, from B&CE, is an additional building block. By working together we can drive charges down, ensuring that employees are only paying for features which are appropriate to them.”
B&CE director of customer development Paul Murphy says: “This collaboration will provide employers with a flexible and simple solution to their automatic enrolment obligations, removing as much of the administration burden as possible, whilst giving the best possible deal for the entire workforce.”