Scottish Widows launches flexible savings range following Zurich transfer

The new range follows the completion of the first transfer phase of Zurich’s UK workplace pensions and savings business, Zurich Corporate Savings, to Scottish Widows.

Scottish Widows announced the acquisition of Zurich Corporate Savings in October 2017. The Zurich workplace investment products transferred today and are re-branded Scottish Widows. Around 200 Zurich employees also transferred today via a TUPE arrangement.

Transferred products include master trust and group SIPP solutions, a general investment account, a stocks and shares ISA, as well as a workplace pensions and savings platform.

Jackie Leiper, Scottish Widows distribution director, said: “Our goal is to create the market-leading UK retirement savings business. Today’s launch is an important step in that journey and supports intermediaries with products to meet a wide range of workplace client needs, from bespoke investments to ready-made solutions. It also broadens our appeal for large employers, enabling us to offer solutions for even the biggest schemes in the market.

“The integration of Zurich’s workplace business gives us a proposition, platform and team of experts to allow us to hit the ground running.”

Andy Seed, Scottish Widows head of partnerships (formerly head of distribution, Zurich corporate savings), added: "We are excited to have joined Scottish Widows. Our deep knowledge and expertise in the large and complex workplace savings arena, coupled with the ambition and drive of the group, will move the business forward at pace and deliver market-leading products to our customers.”