Atlas Master Trust is partnering with Hargreaves Lansdown for the delivery of a Workplace Isa, general investment account, Sipp and specialist retirement income solutions.
The master trust says the new product suite will be attractive to first-time buyers looking to take advantage of the Lifetime Isa bonus, high earners who have hit their maximum pension contribution limit and those looking to do additional saving beyond pension.
Atlas says the move should also appeal to employers looking to be able to offer employees a full suite of savings options suited to their needs.
The Atlas Master Trust has £1.1bn of assets under management, over 100,000 members and is governed by a board of independent trustees. Atlas is strategically supported by Capita.
Hargreaves Lansdown has 12 per cent of workplace pension members saving with it alongside their pension.
Atlas Master Trust CEO Gary Smith says: “Modern pension solutions need to deliver a wider range of savings solutions to meet the diverse needs of employers and employees. Our exclusive partnership with Hargreaves Lansdown sets us up to deliver innovative, diverse and tailored solutions to our clients. When combined with the financial wellness and retirement education modules already available within Atlas, we believe our proposition is now the most comprehensive in the marketplace.”
Hargreaves Lansdown head of workplace solutions Stephen Lefley says: “Gone are the days when a pension was the only answer necessary in the workplace. Given the restrictions to pension saving such as the tapered annual allowance and the lifetime allowance, people need a more comprehensive blend of savings solutions. An ideal workplace financial wellbeing strategy has to include Isas and wider savings solutions to help employees benefit from the recent pension freedoms, as well as more obvious short and medium term savings goals.
“Looking ahead, the priority is much more about savings diversification within the workplace, for which there is growing demand.”