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I think the biggest challenge really is to engage in the first place with
the clients.
We have a sister company who's a fairly large insurance broker, so we're in the fortunate
position of having a large bank of clients to try and engage with. Really what we're
trying to do is explain to them that firstly, the sooner they act the better - they can
bring forward the staging date to avoid possible bottlenecks, and also that
engaging an employee benefits consultant make sense in terms of the time that they
will save
instead of trying to do it themselves.
I think it's a combination of a few fundamental things -
price is obviously important but I definitely think in terms of
auto-enrolment, the user-friendly systems, integration with payroll - all those practical
aspects are crucial.
Yes, we're very impressed with it. We did our due diligence on both master trusts
and the traditional life offices and past experience indicated to us that the
traditional life offices had probably bitten off more than they could chew.
We like that The People's Pension has got the backstory of the B&CE - which plays
well with clients - and also we like the simplistic charging structure.
Very much so especially from our
point of view now we've found a provider who we're satisfied with. We've staged
twenty-plus schemes - it's tried and tested - so we have no reason to change!