The Finance Technology Research Centre (FTRC) has launched a data and information hub for advisers which will allow them to compare workplace pension providers.
The Benefits Guru site, which launched today (September 4), analyses the products and services offered by providers on five aspects of the workplace pensions market: DC pensions, at retirement, wellness, benefits & reward and group risk.
In addition, Benefits Guru provides an annual workplace pension provider and auto-enrolment rating which ranks providers based on their performance in different areas of their propositions.
The 2020 ratings will be available next week (September 11).
The site also includes a workplace pension comparison tool - Benefits Guru Pro - which compares a client’s current provider against others in the market and is free for advisers to use.
Similar tools will soon be launched for the wellbeing market, covering physical, mental, and financial wellbeing and a range of other benefits including group risk, the firm said.
Jason Green, head of workplace research at FTRC and Benefits Guru, said: “Historically it has been hard if not impossible for advisers, employers and providers to access detailed, comparative analysis of workplace pension providers.
“But Benefits Guru, as a powerful analytical tool, aims to make the workplace pension market more transparent through the use of extensive data and information driven by fact, which enables all players in the workplace market to make informed decisions when it comes to employee benefits.”
Ian McKenna, director and founder of FTRC, added: “FTRC has been combining financial analysis and the power of technology to deliver analysis on products and services for 25 years.
“As part of this, we have been analysing workplace pensions for nearly 20 years. We are using our experience and expertise in Benefits Guru to make analysis and insight readily available to advisers and employers of all shapes and sizes in the workplace pensions market.”
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