Prudential says it will provide a single approach to auto-enrolment for many of its clients, but some with a diverse range of employees will require a dual-scheme approach.
David Caw, head of client management at Prudential, says: “Auto-enrolment brings a number of challenges for employers as they look to meet their obligations in a cost-effective and efficient manner.
“While we are providing Prudential-only solutions for many clients, we also expect that dual provider arrangements will be a feature of the auto-enrolment landscape. As we seek out the best fit auto-enrolment solutions for clients ahead of their staging dates, working with Nest and Now: Pensions offers them a choice of propositions.”
Tim Jones, chief executive of Nest says: “Many large employers currently getting to grips with automatic enrolment want to use different schemes for different groups of staff. Nest is here to help make automatic enrolment easier for those employers and to provide a great value pension scheme for their workers.
Morten Nilsson, CEO of Now: Pensions, says: “We are delighted to be working with such a well-established UK organisation as Prudential.”
