Standard Life has partnered with Cushon to offer a selection of savings and investment options as part of its workplace savings proposition.
Standard Life’s Workplace Savings Proposition, in collaboration with Cushon, will allow companies to provide their employees with a variety of savings alternatives, ranging from Individual Savings Accounts (ISA) and Lifetime ISAs (LISA) to Junior ISAs (JISA) and a General Investment Account (GIA).
The workplace individual savings account will offer a range of readymade portfolios as well as over 1,000 individual funds from 90 fund managers, with ESG focused options for employees to choose from.
The digitally-driven Cushon products will work with the Standard Life Workplace member site and other popular employee benefit platforms, such as Lifelens. Members will have single sign-on access to their Cushon portal as well as their ISA saving valuations being presented in the Standard Life dashboard and app.
Standard Life and Cushon will provide co-branded staff communications with a focus on customer journeys. Members will also have access to Cushon support resources, including webinars and seminars, as well as a dedicated microsite.
The Standard Life Workplace Savings Proposition will launch in March 2022. Standard Life’s Workplace offering currently serves around 35,000 employers and 1.8 million members through a mix of contract, master trust, and own trust schemes.
Standard Life workplace managing director Gail Izat says: “Developing and launching a workplace ISA for our award-winning DC pensions and savings proposition means that we can provide even greater flexibility for members to save for their short, medium, and long-term financial goals. Collaborating with Cushon is an important step in our development roadmap to provide our members with access to wider savings and promote greater financial wellbeing. As a leading provider in this market, we will continue to use partnerships to develop compelling solutions for our members.”
Cushon CEO Ben Pollard says: “As a fintech, we use our best-in-class technology to improve the savings habits of UK employees and help them achieve a better financial future. Strategic partnerships are a great way of extending our reach, so we’re really excited to be partnering with Standard Life to bring our digital savings journey and range of products to their customers.
“We believe that the workplace is the right environment to get employees saving for both their long term and short-term needs and so it’s been great to collaborate and deliver a great end to end digital solution where Standard Life customers can easily view and manage their pensions and savings all in one place.”