With the decline of final salary schemes as a cost-effective remuneration option for many employers and the impact of pension simplification to allow self-investment and income drawdown as well as the forthcoming timetable for auto-enrolment, many companies are now viewing corporate SIPPs as a viable option for employee pension provision.

To meet this demand Delta has introduced its Workplace Savings Module to automate the flow of data between the employer sponsoring the SIPP, the fund manager investing the contributions, the bank providing cash management services and, not least, the scheme administrator.

The key features of the Workplace Savings Module include:

• Integration with payroll and HR systems to auto-populate SIPP~Pro with member and contribution data allowing easy SIPP payroll administration
• Multiple brands can be set-up  for each  employer with each brand having its own default fee structure and documentation templates
• Automatic creation of member bank accounts
• Members assigned to risk profiles that can be managed by the Scheme Administrator or the investment manager
• Straight through processing including aggregated dealing, money movements and member documentation
• Online access for advisers, members and employers
• Full integration with SIPP~Pro, Delta’s back office corporate SIPP administration that manages all regulatory reporting including tax claims
• SIPP~Pro will also manage transfer values and direct contributions from the member be they cash or share rollover, as well as members taking benefits including income drawdown