Bank of Scotland and AXA team up for stakeholder
UK – Bank of Scotland is teaming up with financial services group AXA to offer stakeholder pension products, for which it says 4,000 business customers have already shown interest.
The bank is initially targeting these clients, but is planning ultimately on making the product available to private customers through its branch network.
The group is also including a software package called Schemeshare in the product offering, which can be used with a business’s payroll system for ease of administration
“ Quite simply, it is hassle free, is extremely simple to administer, and critically, will be administered by one of the UK’s premier pensions companies, AXA,” says Ray Milne, head of long-term savings at Bank of Scotland.