Pensions - Articles - Scottish Widows launch corporate pensions reporting service


Scottish Widows has launched a corporate pension reporting service for employers, offering tailored information for business’ corporate pension schemes and further strengthening its governance framework.

 The Scottish Widows Corporate Pensions Governance Report highlights key information specific to individual businesses including the number of active employees in a scheme, their average term to retirement, average fund value, and details on monthly contributions from employers and employees.
  
 In addition, the report provides a summary of the funds that pension savings are invested in as well as important information about the way in which the scheme is managed by Scottish Widows. Important guidance is also available to employers as they seek to engage with their employees about their company pension.
  
 The reports add an additional layer of governance to group personal pension schemes, encouraging oversight from both independent committee and individual client levels.
  
 Pete Glancy, Head of Industry Development at Scottish Widows, said:
 “Our group personal pensions operate within a tightly regulated and supervised environment, and the recent introduction of independent governance committees adds an additional layer of expert oversight to these schemes. Nonetheless, we recognise that some aspects of governance are best managed at individual client level, with business leaders looking to ensure that both their business and its workforce get the best possible return from their pension scheme.
  
 “In an ever-changing industry it is vital that employers remain confident in the benefits of their corporate pension scheme, aware of the changes that might affect them and able to communicate relevant information to their employees. Our Corporate Pensions Governance Reports offer this additional level support to employers by providing specific and tailored information about their scheme as well as general industry insight and details of our own service commitment.”
  
 Corporate Pensions Governance Reports are available on request to employers enrolled in a Scottish Widows corporate pension scheme. Requests should be made to the employer’s Scottish Widows business development manager.

Back to Index


Similar News to this Story

Wish list for the occupational pensions industry in 2025
As one year closes and another begins, it's an opportune moment to set our sights on the future. The UK occupational pensions industry faces nume
PSIG announces outcome of Consultation
The Pensions Scams Industry Group (PSIG), which was established in 2014 to help protect pension scheme members from scams, today announced the feedbac
Transfer values fell to a 12 month low during November
XPS Group’s Transfer Value Index reached a 12-month low, dropping to £151,000 during November 2024 before then recovering to its previous month-end po

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.