The last few years have seen a lot of changes in our Workplace Savings Proposition and we’re continuing to evolve and enhance our proposition to deliver great things for our clients.

Our Workplace Savings roadmap has set out some key enhancements we’re making to our Workplace Group Personal Pension (GPP) and Group Stakeholder (GSHP) propositions over the next 12 months.  This will help offer employees greater flexibility for their pension savings and wider options at retirement, under their existing pension plans.

What are the enhancements being made?

  • Introducing integrated flexible access drawdown, with new Investment Pathways. Please note that this feature will be available shortly after all the other changes are implemented.
  • Ability to remain invested until age 99 - we're offering more flexibility to employees at and in retirement.
  • Extended self-select fund range (for GPP clients) - offering access to a wider range of asset classes and sectors, as well as a number of sustainable and thematic funds.
  • More transparent charges - we’re making changes to how we deduct charges from employees’ plans, to help make the costs and charges more transparent. 
  • Rationalising our advice charge options - we'll be offering the most frequently used options.  Employees can continue to instruct us to pay advice charges from their plans to their adviser.
  • Adviser digital services - we’re making changes over the next few months, and you’ll notice changes in features and the design of the website as we continue to improve your services.

We’re writing to clients and their employees to let them know about the changes and what they mean for them. We’ll also write to employees again when the changes are completed.

What the changes mean for clients and their employees

  • These changes will happen automatically.
  • Employees will receive updated Terms & Conditions (T&Cs).
  • Clients and their employees will receive an updated scheme and plan number.

Terms & Conditions

Plan Terms & Conditions (T&Cs) will be updated and take effect once the changes are completed. It’s important that employees download and keep a copy, as these replace all previous versions. We'll write to employees to confirm this.

Payment suspension period

There’ll be a payroll upload and payment suspension period, as we’re updating our banking details. Employers won’t be able to upload payroll files and employees’ direct debits can’t be collected during this period. We’ll write to clients and their employees separately about this.

Digital services

Digital services will be temporarily unavailable over the weekends when the changes are being made. We'll give advance notice when logging into the services to let you know when this is going to happen.

When will these changes happen?

Using the wealth of knowledge and experience within Scottish Widows and the wider LBG, and to ensure we deliver the best outcomes for our customers, we’re carrying out the enhancements and changes across a number of phases – some completed last year and the rest will be carried out during 2022.

Prior to each phase, we’ve got rigorous testing and processes in place; if any issues arise that cause us concern in respect of the customer experience we’ll readjust; which could result in adjustments to the delivery dates.

In your letter, we've included a reference.  Using that reference, and the table below, you can see when the changes are likely to happen for your clients and their employees.

Reference Expected completion date status Online service unavailable to all on these dates Flexi-Access Drawdown Delivery
TS6A 8th November 2021 Complete 6th/7th November 2021 Anticipated Q4 2022
TS6B 11th July 2022 In progress 9th/10th July 2022 Anticipated Q4 2022
TS6C Q4 2022 To be started Specific dates to be confirmed Anticipated Q4 2022

We're here to help

If you have any questions about these changes you can call us on 

0345 850 1060.

We're open Monday to Friday, 9am to 5pm.

Adviser Digital Services

More details will be available soon.

Coming soon