Aegon has upgraded its Member Insights workplace pensions tool with three new features.
Advisers and employers can now gain additional insights on membership and how schemes compare with others.
Firstly a ‘deferred members’ section has been added covering the deferred membership of the scheme in more detail. Aegon said this will assist trustees of trust-based schemes where they have ongoing obligations to their deferred members.
The next upgrade is an enhanced ‘industry comparison’ section with scheme averages compared with industry averages across a wider range of data.
Thirdly, a ‘gender pension gap’ section has arrived, which pulls together key metrics with an age and gender split.
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Other features of the tool that already existed include fund performance, service standards and member outcomes, details of members’ savings levels, and potential retirement income.
The tool also enables users to directly send targeted email campaigns to scheme members.
Nick Roy, director, client and partnership development at Aegon, said: “Good scheme governance is a priority for all employers. This can be hard work and time consuming for all involved, however the support offered through this innovative tool can make this so much easier.
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“Aegon’s enhanced Member Insights tool does a lot of the heavy lifting for the Trustee Board and employers, but more importantly offers a deep and detailed view into how their members are contributing to and engaging with their savings.
“This insight makes the challenge of around effective scheme governance much more manageable,” he continued.
“As employers increasingly focus on supporting their employees to close the Gender Pensions Gap, the enhanced Member Insights tool now helps to identify areas and take action to close this gap.”
