Standard Life launches auto-enrolment product for SMEs

Standard Life has launched an online auto-enrolment product, aimed at helping small and medium-sized enterprises (SMEs) to manage their legislative duties.

The online product, called ’Good to go’, provides:

  • A decision on pension scheme terms in 60 seconds.
  • The ability to set up a new qualifying pension scheme in six minutes.
  • Online support to help advisers and employers at each stage of compliance.
  • Tools to help assess the workforce, calculate the cost of auto-enrolment and produce a comprehensive plan of the actions an employer needs to take.
  • An investment approach designed around delivering good member outcomes.
  • A suite of employee communications to explain the benefits of the scheme.

Graeme Bold (pictured), workplace proposition director at Standard Life, said: “In 2014, nearly 35,000 employers will be implementing auto-enrolment into their organisations.

“That poses a big challenge for advisers looking to put in place solutions that not only fit the needs of their SME [employer] clients, but which also focuses on providing employees with good outcomes when they retire.

“We have drawn on our experience of working with the largest employers and taken all of the key elements of our wider proposition and technology to build a packaged online product.”