Scottish Life, the pensions arm of the Royal London Group, has introduced a new online service to make administration of its pension products more efficient and less time consuming for IFAs and their clients.
The new yearly review update facility for Retirement Solutions will allow scheme administrators to conduct their annual review much more quickly and easily and is also more secure than paper-based processes, the company said.
Retirement Solutions scheme administrators and IFAs will receive an online reminder message six weeks prior to the yearly review date, and they will be guided through the process of updating employees’ salary and contribution details.
Mark Polson, head of corporate business at Scottish Life said: As a company committed to the corporate pensions market, we are always looking for ways to help make administration less cumbersome for our customers and their advisers.
Our new facility works seamlessly with our existing market-leading e-service proposition and moves us one step closer to eliminating paper-based administration for pensions.