EXCLUSIVE: Lorica Employee Benefits has partnered Now: Pensions to add a master trust to its integrated auto-enrolment and pensions product, Littleblue.
Littleblue, which also includes a group personal pension (GPP) plan, is designed to suit employers with between five and 250 employees, but can be used by both larger and smaller organisations.
It provides employers with an on-boarding platform, auto-enrolment hub, online benefits portal, employee communications, and opt-in and opt-out functionality.
James Biggs (pictured), director of corporate pensions at Lorica Employee Benefits, said: “Many [employers] will choose a master trust for cost savings and more simple governance.
“For us, it means we never have to say no to [an employer] that needs a solution in order to comply with the new pension regulations. Now: Pensions is geared up to act swiftly and accurately when the spike in demand happens.”
Morten Nilsson, chief executive officer of Now: Pensions, added: “As auto-enrolment gathers pace, the opportunity that exists in the market is vast and partnering with Lorica will help ensure that even more UK SMEs can benefit from Now: Pensions’ approach to pensions.”