UK/AUSTRALIA - Logica has linked up with Australian superannuation exchange SuperChoice to offer UK pension providers a streamlined product to process contributions under auto-enrolment.
The business and technology provider said it has exclusively linked with SuperChoice to offer the Australian firm’s enrolment package, which has been adapted for the UK market.
It said although it falls on employers to comply with auto-enrolment duties, bosses were looking to providers to help them.
The contribution processing package - adapted for the UK market - means providers can offer a fully automated method of processing employee pension contributions which can be utilised across all their schemes.
Logica head of wealth management Allison Fower said several providers were keen to implement a blanket auto-enrolment method for clients.
She also said the solution would cut costs associated with increased opt-ins and significantly increased opt-outs.
“We know legislation is on employers, but they are looking to the providers for support.
“We saw some real similarities with what was happening in the Australian market with what was happening here. It changed dramatically, and importantly we saw there is real opportunity for providers who come with the right solutions.
"Scheme providers need a simple solution that will enable them to easily auto-enrol employees without adding further pressure to their customer's HR and finance teams."
The PPI has unveiled a policy paper outlining current considerations and policy debates relevant to DC scheme default strategies. Kim Kaveh explores some of its views.
The £30bn local government pension pool has appointed Quoniam and Robeco to manage an active equity portfolio worth around £400m.
The volume of insured buyouts from FTSE 100 defined benefit (DB) schemes could increase from £5bn to £300bn by 2029, according to Lane Clark & Peacock (LCP).