Standard Life and Punter Southall Defined Contribution Consulting (PSDCC) have signed a strategic auto-enrolment (AE) deal for small to medium enterprises (SMEs).
Effective from today, PSDCC will offer SME clients Standard Life's group flexible retirement plans as an off the shelf AE solution.
PSDCC said small business clients will, as a result of the package, have access to Standard's employee assessment and data management tools; online administrative resources for employers; enhanced member communications and the insurer's full range of funds including its default.
Standard Life workplace distribution director Alan Reid said: "It is clear from our discussions with many small and medium employers that they will be looking for straightforward solutions that are not only easy to implement to meet their regulatory requirements, but which also offer their employees the right solutions to help them save for retirement.
"We have worked hard with Punter Southall to put in place a proposition that allows that to happen and we look forward to supporting their SME clients through auto-enrolment and beyond."
Punter Southall head of DC consulting Alan Morahan (pictured) said: "AE is a challenge for all employers, particularly those in the SME sector.
"We were keen to provide these employers with a first class solution from a leading pension provider and the deal we have struck with Standard Life achieves this.
"Packaging our advice with their offering means we have a solution for SME clients to get them through their staging date and into business-as-usual mode as efficiently as possible."
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