AEGON Scottish Equitable is launching an online management information service to help advisers develop their corporate client business and aid them with client retention.  AEGON Scottish Equitable believes the service, available from 19 February 2007 on the company’s extranet, is the most comprehensive in the group pensions market.

The information available through the service is designed to give advisers a deeper insight into their pension schemes allowing them to perform regular ‘health checks’.  With detailed analysis of scheme uptake, contribution rates and investment choice advisers can determine whether the scheme is meeting the needs of both employers and employees.   The added facility to compare scheme data to industry averages or averages for AEGON Scottish Equitable’s entire group pensions book helps advisers identify, and work with employers to rectify, any shortfalls. 

Data can also be aggregated across all an adviser’s group schemes to help with overall business planning and strategy.

Advisers can use the service to provide comprehensive customised reporting for corporate clients either via downloadable reports or through a spreadsheet which can be incorporated into their back office systems.

To make the information clear and easy to understand it is broken down into the following categories, each of which is divided into subcategories giving a wealth of additional detail. 

• Scheme summary
• Financial – scheme fund value; yearly, transfer and single contributions
• Membership – numbers of active and deferred members, leavers, new entrants and those due to retire in the next 10 years
• Contributions – total contributions, employer and employee contributions by salary band
• Investment – investment split for the scheme and for different periods to retirement allowing the adviser to check the risk

profile of the fund categories fits the age profile of the scheme.  It also shows average plan values which can be compared to averages for the industry sector or the total AEGON Scottish Equitable group book to check for adequacy or shortfalls

Alison Nelson, head of group marketing says:

“Detailed scheme information can be an invaluable development and retention tool for advisers.  Not only does it let advisers demonstrate to corporate clients they are working with them to maximise the benefits of the pension scheme, it can also pinpoint opportunities to develop their advice role beyond the pension arena.

“We have looked at what’s already available in the market and listened to what advisers want and we believe we are delivering a unique, market-leading service.”

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Notes to Editors

• The management information service is available on all AEGON Scottish Equitable’s Group Personal Pension, Group Stakeholder, Group Sipp, Contracted in Money Purchase, Contracted out Money Purchase and AVC schemes.
• AEGON has assets under administration of £45.2 billion and employs around 4,000 staff. AEGON is part of the AEGON Group, which is one of the world’s largest listed insurers and has assets around Euro 359bn (£250 billion).

For further information

Margaret Robertson
PR Manager
T. 0131 549 6798 | M. 07740 897527
margaret.robertson @aegon.co.uk