HS ADMINISTRATIVE Services launched an internet-based pensions tool that allows employees to access information about their pension savings. The launch coincides with new Statutory Money Purchase Illustration legislation that states all defined contribution schemes must send members the value of their pensions projected up to retirement age.
Employees will be able to view all aspects of their pensions using calculators and modellers to work out their retirement income. It also includes a 'cost of delay' function to highlight what will happen if they delay making contributions.
The tool aims to provide greater access to pension information for employees, while reducing administrative costs to the employer. HS Administrative Services is providing the product in conjunction with Aegon UK Distribution.
* For more information contact Iain Horn HS Admin, on 01928 707901
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