Scottish Life is launching its automatic enrolment proposition this week offering tools and material to assist advisers in helping clients assess their employer duties.
Called Design, Implement and Run, the proposition helps advisers create a series of reports centred around staging dates, current scheme review, workforce assessment and scheme selection. The service allows advisers to determine the duties an employer will have, review their current scheme and model different scheme designs and includes an enhanced online service that will guide employers through all the tasks they need to complete to stay compliant with their duties.
Scottish Life managing director Ewan Smith says: “Automatic enrolment is a major opportunity for providers and advisers alike. But it’s essential to understand what the key issues are, and to develop and implement effective solutions that meet customer needs.
“Over the past couple of years, we have spent a lot of time with advisers and employers, identifying what the “needs” are; then developing and market testing practical solutions.
“There’s one other message we hope advisers will take on board; don’t delay! There’s no point in waiting. Employers need support now, well ahead of their staging date.
Scottish Life business development manager Jamie Clark, says: “The single most important message about automatic enrolment is that it’s not just about pensions: it’s about business planning.”