Scottish Widows and B&CE offer combined AE proposition

  • By: Jack Jones
  • 01 Mar 2012
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Scottish Widows and B&CE have teamed up to offer a segmented auto-enrolment proposition for employers with diverse workforces.

The firms said the framework would enable employers to present an appropriate pension proposition for all employees, bringing together the Scottish Widows group personal pension with B&CE's product The People's Pension.

It enables employers to manage their entire workforce through a single process and interface, reducing the administrative burden of operating two schemes.

Scottish Widows said the technology that allowed employers to use low cost providers like The People's Pension or National Employment Savings Trust for lower paid employees was a fundamental component of its auto-enrolment proposition.

Scottish Widows head of corporate pensions proposition Peter Glancy (pictured) said: "We are putting in place a series of major building blocks which will form our auto-enrolment proposition, designed to operate in the world beyond the Retail Distribution Review.

"The partnership with The People's Pension, from B&CE, is an additional building block. By working together we can drive charges down, ensuring that employees are only paying for features which are appropriate to them."

B&CE director of customer development Paul Murphy said: "This collaboration will provide employers with a flexible and simple solution to their automatic enrolment obligations, removing as much of the administrative burden as possible, whilst giving the best possible deal for their entire workforce."

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