UK - Insurer Scottish Life has teamed up with software specialist Vebnet to provide a platform for small to medium-sized enterprises to access their pension schemes.
The new online software will offer scheme members access to their benefit statements, fund value as well as details of supplementary employee benefits, such as life insurance, dental care and creche facilities.
Vebnet chief executive Gerry O’Neil said the platform will open up a whole new world for small businesses.
He said: “There is no other service which gives such unprecedented access. It not only allows SMEs the chance to compete with the larger employers but will allow IFAs to provide the same service as the big boys.”
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.