SEI has partnered with Moneyhub in a bid to enhance its master trust offering and help members improve their financial wellbeing.
Through the partnership, SEI will offer members a platform accessible by desktop, tablet or mobile which will list the member's employer pension information.
The master trust will utilise Moneyhub's Personal Financial Management platform to help improve engagement and financial wellbeing for members.
Members will be able to connect their bank accounts, savings, investments, other pension plans for a more accurate view of their overall financial positions.
The partnership offers accessible and easy-to-plan retirement saving functions to SEI's institutional clients and SEI says it will "go further than the pensions dashboard".
SEI Institutional Group director of defined contribution David Snowdon said: "We are continually striving for greater employee engagement in the pensions industry and looking for new ways to innovate our master trust offering to break down barriers of accessibility and lack of employee dynamism.
"Moneyhub and its powerful, insightful open finance solutions seamlessly support our vision, creating a highly personalised user experience, we are proud to be able to offer our members and their employees a consolidated approach to their savings that will support them in their financial future and feeling secure in one of the most important areas of life."
Moneyhub chief executive Samantha Seaton added: "SEI shares our views on the importance of employers helping employees with financial guidance to improve financial wellbeing. We are thrilled to be supporting the evolution of SEI's master trust proposition with our powerful machine learning capabilities.
"This forward-looking collaboration further showcases the potential and innovative nature of open finance and how it can play a greater role in financial wellbeing, which is becoming increasingly central in these unpredictable times."
Investment and advice giant Quilter has called on the government to consider decoupling employee and employer contribution thresholds for auto-enrolment (AE) due to the pressures of Covid-19.
Plans to improve value to members in defined contribution (DC) plans by improving investment options and governance while consolidating small schemes have been welcomed as a “wake-up call” for the industry.
While many savers remain concerned about funding retirement, more than a quarter say auto-enrolment (AE) provisions have solved their worries, Close Brothers research shows.
The Department for Work and Pensions (DWP) has launched a consultation to improve saver outcomes and promote investment in green technology and infrastructure.
One in ten UK workers have paused their pension contributions during the Covid-19 pandemic with their absence from the defined contribution (DC) space bringing serious implications for the retirement landscape.