Scottish Widows' Salary Exchange tool and Scottish Widows Self Investment Option are the two enhancements mentioned
Scottish Widows, a life, pensions and investment company, has said that it is launching two new enhancements to its Corporate Pensions proposition, reportedly giving advisers and employers the possibility of offering tailored pension solutions.
One of the enhancements is Scottish Widows’ Salary Exchange tool that aids advisers and employers to communicate the benefits of salary exchange and demonstrate the different ways available to take advantage of the employer and employee national insurance contribution savings which result from a Salary Exchange agreement.
The other enhancement is Scottish Widows Self Investment Option, which is provided through the Scottish Widows Retirement Account, and is available as an add-on to the member’s group pension and users can continue to use their standard group pension and contribute towards their Self Investment Option when they wish.
John Taylor, market director of corporate pensions at Scottish Widows, said: The addition of the Salary Exchange tool further strengthens our overall Corporate Pensions proposition and allows us to demonstrate once again that Scottish Widows is constantly evolving and bringing to market new propositions for the benefits of advisers, employers and employees.
The addition of new Self Investment Option features to our overall Corporate Pensions proposition demonstrates that we are committed to strengthening and maintaining our competitive position in the market.