Marvin OnumonuAegon has teamed up with The Pension Lab to add a pension tracing and consolidation service to its member insights platform for master trust clients.
The integration allows members to track down and compare old pension pots using The Pension Lab’s dashboard, and aims to make pension consolidation easier for both members and employers.
Antonia Balaam, head of master trust at Aegon, said: “At our master trust employer events, the most frequent question we hear from members is: ‘How do I consolidate my pensions?’ That’s why we’re focused on making the process as straightforward as possible.
“Member insights has proven to be a valuable tool for employers running engagement campaigns, and our collaboration with The Pension Lab now gives savers including master trust members—at no extra cost—the ability to trace and consolidate old pensions where it’s safe and beneficial to do so.”
Balaam added: “By combining member insights with The Pension Lab’s Trace & Compare feature, we’re giving members greater control over their long-term financial wellbeing.
“Members are finding lost pensions—40% in real time and 75% within two days—and consolidating them with ease.
“For employers, this means they can proactively support their workforce with one of their most common financial concerns.
“It’s a smarter, more transparent way to manage workplace pensions.”
