Scottish Life has launched an online status report system, allowing advisers to check the service standards of a DC scheme.
Each RAG report contains key information, such as yearly review position, outstanding work items and outstanding and unallocated payments, all of which can be exported to a spreadsheet.
IFAs will be able to provide ongoing governance to corporate clients more easily by using RAG, Scottish Life says, as it will allow them to identify any shortcomings in the scheme.
Kenny Watson, head of group servicing at Scottish Life, says: "We could produce many statistics to demonstrate the delivery of our service proposition.
"But by providing advisers online access to the information we use ourselves to proactively monitor service at scheme level, we're offering an added level of transparency which we hope will demonstrate our commitment to providing the highest standard of service possible."
The RAG service is available for Retirement Solutions Group Pensions, Talisman Group Pension Schemes and Crest Pension Schemes.
Contact: John Bakie, Tel: 020 7484 9805, e-mail: [email protected]IFAonline
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