Standard Life and Punter Southall Defined Contribution Consulting (PSDCC) have teamed up to provide an auto-enrolment product for small and medium-sized enterprises (SMEs).
The agreement allows PSDCC to offer SMEs Standard Life’s Group Flexible Retirement plans as an off-the-shelf auto-enrolment product.
Employers will receive:
- Access to Standard Life’s auto-enrolment tools.
- Access to online resources for employers to administer their scheme and for employees to join, manage and monitor their pension.
- Enhanced member communications.
- An actively managed default fund from Standard Life’s corporate investment proposition as well as access to the full fund range.
Alan Reid, workplace distribution director at Standard Life, (pictured) said: “It is clear from our discussions with many SMEs that they will be looking for straightforward solutions that are not only easy to implement to meet their regulatory requirements, but which also offer their employees the right solutions to help them save for retirement.
Alan Morahan, head of DC consulting at Punter Southall, added: “Auto-enrolment is a challenge for all employers, particularly those in the small and medium sector.
“We were keen to provide these employers with a first-class solution from a leading pension provider and the deal we have struck with Standard Life achieves this.”