Employee benefit consultancy Broadstone has partnered with Standard Life to deliver an auto-enrolment solution to small and medium-sized enterprises which will be staging from January 2014.
As a result of the partnership, Broadstone clients will have access to Standard Life’s group flexible retirement plan.
Broadstone chief executive Mark Howlett said: “Our experience of advising and project managing auto-enrolment for large, complex organisations highlights the need for a streamlined, process-driven solution for SMEs seeking to minimise use of internal resource and time and contain cost.
“The sheer number of employers commencing auto-enrolment in 2014 dictates that a process-driven solution is the safest way for SMEs to ensure that they meet their employer duties – particularly if they wake up to those responsibilities relatively close to their staging date.
“By partnering with Standard Life as a principal provider for SME auto-enrolment we can significantly reduce the burden on our clients by ensuring a rapid, straightforward process with the security of knowing that it is underpinned by a reliable, tested, technology platform.”
Standard Life’s GFR Plan provides online functionality to employers and employees as well as Broadstone, unlimited member investment fund switching, an actively-managed default investment fund and other fund options, and a suite of member and employer communications.