Standard Chartered Bank to launch integrated benefits portal

Standard Chartered Bank will be one of the first organisations to adopt a new integrated benefits portal from Standard Life.

The Lifelens product, which provides employees with access to both pension and non-pension benefits, including savings options, flexible benefits, online payslips, total reward statements, pensions, planning and modeling tools, and educational material.

A further five employers are set to launch Lifelens in the first quarter of 2011, while Standard Life will roll it out to its own staff in May 2011.

David Curtis, group head, pensions and benefits at Standard Chartered Bank, said: “The opportunity to provide a broad range of savings and investment products under a single systems will give employees both flexibility and ease of use.

“We have worked with Standard Life for a number of years now and have established an excellent working relationship with it. It has worked closely with us to understand our initial requirements and ensure its new platform is sufficiently flexible to accommodate them.”

Gerry O’Neill, managing director, corporate solutions at Standard Life, added: “Lifelens provides finance directors with an effective solution to meet the challenge of controlling the cost of benefit provision and leveraging efficiencies in administration. HR directors have the ability to configure and control benefit and payroll costs via a single portal. Lifelens also becomes the launch pad for their future benefit plans.”

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