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Lighthouse unveils alternative to Nest

Listed UK advisory group Lighthouse is set to launch an automatic enrolment solution on 3 March with charging tariffs being published on 25 February.

The Lighthouse Pensions Trust is a multi-employer Pensions Master Trust using the “BirthStar age-based target date funds”, managed by Alliance Bernstein, and professional trustee services provided by Bridge Trustees Limited, a professional trustee company owned by Eversheds LLP.

The main features of LPT include employer assistance with planning and HR/payroll administration, pre-staging assistance and access to an auto-enrolment hub for all employers.

Employers will be invoiced for participation and member fees according to tariffs to be published on 25 February.

Malcolm Streatfield, chief executive of Lighthouse Group plc, said: “It is specifically aimed at the employers of Middle Britain, for which market capacity may otherwise be an issue, and provides a comprehensive and streamlined auto-enrolment solution, making it easy for employers to meet their legal obligations within a governance structure focused on good member outcomes and value for money.”

Lighthouse’s launch comes after in October last year, a group of financial advisers launched the Auto Enrolment Advisory Group.

The service is designed to ensure advisers maintain and build on “excellent relationships” with their corporate and business owner clients, deal profitably with auto enrolment and have access to experts who fully understand (and have experience of dealing with) the challenges advisers face when working with corporate clients generally and auto enrolment specifically.