Enrich Reward opens portal to new pensions service

Consultancy Enrich Reward is entering the pensions market to deliver and manage pensions and benefits through one portal.

Following a management buy-out of the reward side of Gissings Advisory Services in October 2007, Enrich was under contract not to enter the pensions market for two years.

Its new pension service, launching this month, will include scheme governance, consulting on personal accounts issues and new employer duties, salary sacrifice, investment advice, corporate wrap and member modelling tools.

The service will focus wholly on defined contribution arrangements.

Colin Mayes, senior pension adviser at Enrich, said the firm wanted to minimise costs to employers, so had designed technology to support client management. The portal will utilise pension providers’ administration technology.

“We are not just giving employers a technological solution and walking away,” said Mayes. “Our pricing structure provides flexibility. We will operate on [both] a fee or commission basis while we can.”

Click here for more articles on occupational pensions