Tuesday, 16 April 2013 11:21
Standard Life increases capacity to cope with auto-enrolment demand
Auto-enrolment demand has meant Standard Life has increased its capacity to handle up to 60,000 new workplace pension members each day.
Previously, the company could only handle 4,000 per day.
The firm, a corporate member of the Institute of Financial Planning, is one of the UK's largest providers of workplace pensions and looks after 35,000 schemes.
The firm has also increased the capacity to process online payments from 100,000 to 350,000 per day.
Other changes include new planning and modelling tools for employers and their advisers and an eligibility tool to help with data management.
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Jamie Jenkins, head of workplace strategy at Standard Life, said: "We look after 35,000 schemes so from very early on in our planning for auto-enrolment we could predict the huge wave of employees that would need to be auto-enrolled and it was clear we had to increase our systems capacity to ensure we can meet the demand.
"During the past couple of years our focus has been on upgrading our systems to ensure our clients, and their advisers, can implement auto-enrolment easily and smoothly.
"We are actively engaging with employers and their advisers well in advance of staging dates to make sure they understand their requirements and to ensure they put in place the right solutions for their business and their employees."
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Previously, the company could only handle 4,000 per day.
The firm, a corporate member of the Institute of Financial Planning, is one of the UK's largest providers of workplace pensions and looks after 35,000 schemes.
The firm has also increased the capacity to process online payments from 100,000 to 350,000 per day.
Other changes include new planning and modelling tools for employers and their advisers and an eligibility tool to help with data management.
{desktop}{/desktop}{mobile}{/mobile}
Jamie Jenkins, head of workplace strategy at Standard Life, said: "We look after 35,000 schemes so from very early on in our planning for auto-enrolment we could predict the huge wave of employees that would need to be auto-enrolled and it was clear we had to increase our systems capacity to ensure we can meet the demand.
"During the past couple of years our focus has been on upgrading our systems to ensure our clients, and their advisers, can implement auto-enrolment easily and smoothly.
"We are actively engaging with employers and their advisers well in advance of staging dates to make sure they understand their requirements and to ensure they put in place the right solutions for their business and their employees."
• Want to receive a free weekly summary of the best news stories from our website? Just go to home page and submit your name and email address. If you are already logged in you will need to log out to see the e-newsletter sign up. You can then log in again.
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