As the UK moves toward a more streamlined and cost-effective workplace pension market, Lumera’s recent acquisition of ITM enables us to contribute valuable insights from Sweden’s centralized, low-cost pension model.
In Sweden, a consolidated approach has driven remarkable efficiencies, significantly reducing administration costs while providing a transparent experience for pension members through its established Pension Dashboard. This central model simplifies provider selection, contribution management, and transfers, creating a smoother, more transparent pension environment that encourages member engagement.
Explore how the UK can achieve greater value for members, with technology and automation set to play key roles in building a sustainable, efficient pension future.
Source: Corporate Adviser October 28, 2024.
