High street insurance retailer Swinton has appointed Friends Provident to supply a new group stakeholder pension scheme for its 4,700 employees.
The new stakeholder scheme replaces the existing scheme provided by Winterthur Life and provides Swinton employees with a bespoke pension solution tailored to meet the specific requirements of the UK wide insurance group.
All new employees plus those who are members of the existing stakeholder scheme will be invited to join the new scheme.
As part of the new scheme design, Friends Provident has implemented a support programme for members and employees to both raise awareness of and foster take up of the pension plan. Central to this is a selection of new online management tools offered to employees that will enable them to take full control of their own retirement.
Donna Winrow, Swinton’s director of HR said: “At Swinton we are constantly looking to improve the benefits we provide to our employees. Our new pension plan offers an interactive resource which we hope will raise awareness and encourage take-up.
“With over 580 high street branches across the UK and call centres in Manchester, Norwich and Halifax, this new online management system will enable us to communicate effectively with all of our employees on their pension plan wherever they are based in the UK.”