The platform offers access to funds managed by Fidelity and other fund managers. Additional funds and managers will be included based on client and adviser demand. The platform can be used on an investment only or on a full service basis which includes member record keeping and employee communications services.
Fidelity expects significant growth in this area as businesses become more global in nature and seek to deliver consistent benefits to their internationally mobile employees.
The new platform is operated through a newly established insurance company domiciled in Dublin. Fidelity says using an insurance structure means it can deliver customer benefits in terms of fund flexibility and efficiency.
Fidelity head of DC and workplace savings Julian Webb says: “The impact of globalisation has meant that there is an increasing need for savings and investment products that can provide consistent benefits across the world for internationally mobile employees. Having a multinational savings solution in place can help global companies attract, motivate and retain internationally mobile individuals.
“Our clients rightly expect the same flexibility in their international plans that they have for their domestic plans. Our new platform will provide them with access to a range of funds and services that will allow them to tailor their international plan to their requirements.
“The international retirement savings market is a growth area for our business and we look forward to building on our offering as this market continues to develop.”