Scot Wids adds share dealing to corporate pensions

Scottish Widows is enhancing its corporate pensions proposition to allow share dealing for self invested members.

The firm has also launched a salary exchange tool, allowing employers and advisers to more easily explain the tax savings gained from salary exchange schemes.

The Scottish Widows self investment option will now enable share dealing, the roll over of shares in SAYE schemes and the transfer of non-monetary assets.

Scottish Widows say the enhancements to the self investment option will give members greater choice and control when managing their pension fund.

"Our Corporate Pensions customers require a greater degree of customisation from their provider, and our Self Investment Option can be tailored to meet their needs exactly," says corporate pensions market director, John Taylor.

Scottish Widows has also launched a salary exchange tool for advisers and employers to show the benefits of salary exchange schemes.

It allows bulk calculations and can produce pre-populated letters outlining how salaries would change, giving employees the chance to opt-in if they wish.

"In the current economic climate, Salary Exchange can be a cost-saving option for both employers and employees," Taylor adds.

"It allows employees to save towards their pension with little impact on their take-home salary, which should provide that extra incentive to save."

Contact: John Bakie, Tel: 020 7484 9805, e-mail: John.Bakie@incisivemedia.com