30th Jan 2014 13:54
LONDON (Alliance News) - Lighthouse Group PLC Thursday said it is to launch an auto-enrolment pensions trust in March, targeting what it calls "Middle Britain".
In a statement, the financial adviser said it will publish tariffs for the trust on February 25, ahead of the March 3 launch.
The auto-enrolment pensions trust will offer an alternative to NEST - the National Employment Savings Trust - as employers are obliged to gradually enrol all eligible workers into workplace pensions between 2012 and 2018 after recent changes to pensions law.
"It is specifically aimed at the employers of Middle Britain, for which market capacity may otherwise be an issue, and provides a comprehensive and streamlined auto-enrolment solution, making it easy for employers to meet their legal obligations within a governance structure focused on good member outcomes and value for money," Malcolm Streatfield, chief executive, said in a statement.
Lighthouse shares were Thursday quoted at 4.35 pence, up 2.4%.
By Samuel Agini; [email protected]; @samuelagini
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