NOW: Pensions has announced that it is further strengthening its administration capability with the appointment of JLT Employee Benefits as its new administration partner. The partnership has gone live and already involves more than 1,000 clients.
The appointment of JLT EB follows the launch of NOW: Pensions’ online sign up tool which allows employers and advisers to apply to join the scheme online in a matter of minutes via a secure section of the NOW: Pensions website. This platform is able to handle up to 2,500 clients every week and since launch in January 2014, 1,100 clients and advisers have used the service.
Morten Nilsson, CEO of NOW: Pensions said: “The auto enrolment market is evolving at a rapid pace and we have invested heavily in automated systems to streamline processes and ensure that we are in a strong position to manage the significant numbers of employers who are reaching their staging dates both this year and in the years to come.
“We selected JLT EB as our administration partner for the next phase of auto enrolment as it has an in-depth understanding of pension administration and shares our vision of providing all types of employers with simple and automated processes. JLT EB has shown its strength in dealing with the needs of groups of smaller employers and offers the flexibility to rapidly scale up as required.”
Malcolm Reynolds, Managing Director, JLT Employee Benefits said: “NOW: Pensions’ appointment of JLT EB to undertake its scheme administration is a very strong endorsement of our offering and the professionalism of our staff. 2014 is a crucial year for the success of auto-enrolment, and having effective systems and efficient administration will be key to its success, driving low opt-out rates and increased engagement. We are confident that our corporate offering and ability to form meaningful partnerships with our clients will ensure a strong and long-lasting relationship with NOW: Pensions.”
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