Yes the tool shows the data at an individual scheme level but also aggregated for all the schemes you have with Standard Life. You can also apply a filter to see information on deferred members within the scheme.

For most filters the tool shows 12 months of historical data allowing you to analyse trends over time.

We have a minimum scheme size of 10 members lives for the application of filters.

We use our Employer Authentication Journey which is the same journey that you as an employer will use to login to the administration platform.

We created our member segmentation model to help understand different member needs, predominantly based on life stage and wealth. We used qualitative and quantitative research to create the segments and used the same approach to align members to a segment. Each segment has a profile based on member insights, financial goals, functional needs and emotional needs which we use to help create relevant communications and develop products and services. Clients and Trustees will be able to see how their membership is split across each of the segments which can support their engagement and communications plans to help meet scheme objectives.

If any of your members have plans in different schemes it will not impact the customer segment they are in. The segmentation modelling takes into account other factors and not just pot size.

As with any modelling technique it is indicative and should be used as a guide only.

A description of the member segments can be found below:

Member segmentation model informatin table

No, members will not be able to be identified through either the application or from the data transferred to TCS.

All data is aggregated at source, and personal details such as name, national insurance number, plan number, first line of address are removed prior to the data file being sent to TCS.

Yes, Trustees can request that data for specific schemes are not transferred to TCS and as a result are not made available on the end user Client Analytics application. Standard Life can process these instructions as requested.

Additional users can request access via the Client Analytics login.

There is no change to the existing Scheme Governance reports. The data within the tool is presented to allow the identification of trends and is not designed for core scheme governance purposes.

Yes, if you have given your adviser authority to act on your scheme's behalf then they will be able to register for Client Analytics and review your scheme data.

Based on user feedback and a desire to improve and increase functionality, we will be making regular updates to the Client Analytics tool. We will regularly release updates about what is planned.

Launched in October 2019, the PLSA RLS were developed in conjunction with researchers at Loughborough University to help individuals to picture what kind of lifestyle they could have in retirement. The standards provide a rule of thumb guide based on common costs for many people in retirement at three different levels; minimum, moderate, and comfortable, and an indication of the range of common goods and services available to members at each level. Read further information about the standards and their objectives.

We have assumed the following:

Variable Assumption p.a
Rate of Return 5%
Inflation Rate 2.5%
Salary Inflation Rate 3.5%
Annual Charge 1%
  • The member takes a fixed income of 5% of their calculated final pension pot
  • All members are eligible for the maximum state pension at retirement. For members who have a stated retirement age younger than state pension age, this will overstate their annual income at point of retirement.

Some considerations when using the base filter:

  • The view is most accurate for active members so we recommend that you select ‘active’ members from status filter
  • Irregular contribution cycles can affect the information displayed to you. Check if your scheme shows an unusual amount of regular premiums in the month (usually zero or double). If it does, the PLSA stats will not be accurate and we recommend that the PLSA page should not be used until these regular premiums are normalised.

We have assumed the following:

  • Members began working at 20 years old and have been in constant employment before joining their current Standard Life policy
  • We assume members have accrued pension savings equally over the course of their working life before joining their SL policy.

Some considerations when using the base filter:

  • If a member has already consolidated their pension savings with us, the advanced view still applies the assumptions as if they hadn’t.
  • If there has been a scheme wide consolidation activity, we recommend using ‘base’ view only.

We have calculated member bandings on a single member basis.

To ensure consistency with the PLSA assumptions we have assumed a fixed income of 5% of the members final calculated pension pot to determine their Retirement Living Standard.