Maximising the opportunities in corporate pensions

This period of reform in the pensions industry is resulting in untold levels of change in adviser businesses. But it's also uncovering many opportunities for you.

In particular, we believe that automatic enrolment creates real opportunities for advisers in the corporate pensions market. And we're committed to working with you to capitalise on these.

What can you expect from us?

• We're committed to group and individual pensions and are keen to work with you to capitalise on the opportunities in these markets.
• We will continue to support the intermediated market in developing employer solutions and we promise not to market direct to your existing client bank to encourage a direct advice relationship. We don't believe that all our competitors can make this promise.
• We don't claim to be a waterfront player, rather we have a clear understanding of the positive role we can play in the market and how we can help advisers to prosper.
• The Scottish Life proposition will offer a unique combination of quality and value for money designed to support adviser firms and their clients.
• Finally, we will be easy to do business with; our service will be aligned to your needs, business processes and technology.

Coming soon - during 2012 we will:

• Continue to lead the market in investment governance with an extended Governed Range to support default fund governance as a valuable adviser service for employers.
• Deliver an end to end, flexible automatic enrolment service that will be available to existing and new clients.
• Deliver an RDR remuneration structure that supports the corporate market. We've already led the way in this for 5 years, and have over 1,500 schemes currently in place with an RDR friendly remuneration structure.

Making automatic enrolment work for you

Automatic enrolment presents us with a great opportunity to help employers engage with workplace pension provision, starting with educating and engaging them on their duties and obligations. This will provide a significant opportunity for you to add genuine and sustained value to your clients' businesses.

We'll provide expert support to you for each of the three critical phases of automatic enrolment; scheme analysis and design, solution implementation and finally ongoing servicing.

Making consultancy and adviser charging work

We're committed to supporting you in meeting the challenges ahead as you engage your clients with new advisory propositions and fee structures.

Moving away from a provider-controlled commission model is a crucial step in establishing financial control of your business. It's important to begin this transition now. Our Group Financial Adviser's Fee is aligned to the upcoming consultancy and adviser charging arrangements so we can help you put in place a credible remuneration structure now.

We don't believe that RDR will push advisers to platform-based business models. Platforms will have a role to play but for many clients value for money will be crucial. Helping you provide valued services to these clients whilst reducing cost and risk in your business will be critical to your future profitability. This is where our proposition, supporting your advisory service, will fit in the market ahead.

How we can help

If you have any questions about our vision for the corporate pensions market, read our questions and answers.

Alternatively, to find out how we can help you and your clients with automatic enrolment visit our dedicated area.

Meanwhile, thank you for taking the time to read this - we look forward to doing business with you in the future.

Yours sincerely,

John Deane
Chief Executive,
Scottish Life