Scottish Widows has launched a new auto enrolment hub solution that assesses eligibility and contributions across both its own GPPs and schemes run by the People’s Pension or Nest.
AssistMe offers a single interface for the assessment of employees’ eligibility for automatic enrolment, calculating contributions, dealing with opt outs, opt ins and re-enrolment.
The platform can interface with existing pay roll systems and handle varying payroll periods. It provides employers with the mandatory communications templates they require as well as generating the necessary reports to show compliance with their duties under new pensions reform legislation.
The new solution is powered by SBC Systems.
Lynn Graves, head of business development, corporate pensions for Scottish Widows says: “The introduction of auto enrolment is just weeks away and we recognise the challenge this will bring to employers and advisers.
“Many employers have diverse workforces and our new AssistMe solution can address this challenge by offering choice of providers through the combined expertise of Scottish Widows, The People’s Pension or Nest depending on the needs of their own organisation. This will also ensure employees are enrolled into an appropriate scheme and making the right decisions for their financial futures.”
James Markham, managing director, SBC Systems (UK) says: “The AssistMe solution will bring to the pensions marketplace the fully automated, online experience we have grown accustomed to in our everyday lives as consumers but which until now has been absent from pensions administration. The potential for transformation through this hub solution is substantial.”