BenPal, the employee benefits platform from JLT Employee Benefits, has recorded its one millionth user thanks to new system capabilities enabling the launch of multiple companies simultaneously. This means BenPal is now equipped to service trust based schemes.
Previously, the platform benefited from an increase in the number of users as a result of auto-enrolment. So far, BenPal has carried out over 4m assessments of employees, out of which it has processed in excess of 230,000 automatic enrolments.
Launched in 2009, BenPal developed from being a GPP on-boarding tool to today’s global benefits administration platform, delivering employee engagement, total reward, flexible benefits, pension modelling, auto-enrolment and trust based services around the world.
Through integration with pension admin systems, BenPal provides a portal for employees requiring flex and access to GPP schemes, as well as for those accessing DB and trust based schemes. One of BenPal’s greatest differentiators is its transactional capabilities which allow employees to manage pension investments through the portal, as well as to receive notifications about significant investment changes via email and sms. These features are available not just for active members of a scheme but also for deferred members and those already retired.
Jonathan Underwood, Director at JLT Employee Benefits, says: “We are delighted to have reached this important milestone in our ambitious growth plans. We already support more than 3000 employers, including many top brands, and we are investing heavily in the technology to constantly improve our services.
“We expect to achieve further expansion of the platform as we introduce more trust-based schemes and further deploy the service to international companies thanks to our physical presence on the ground in well over 40 countries.
“In a world increasingly geared towards online, BenPal’s capability to report significant change in the value of pension funds in real time and engage policy holders to take immediate action is particularly innovative.”
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About JLT Employee Benefits
JLT Employee Benefits is one of the UK's leading employee benefit providers offering a wide range of benefit and pension services, including administration, actuarial and pension consultancy, investment, Self Invested Personal Pensions (SIPPs) and Small Self Administered Schemes (SSASs) administration, flexible benefits, healthcare, benefit communication and financial education.
JLT Employee Benefits employs over 2,200 professionals throughout the UK and in 2013 had revenues of £172m in UK & Ireland.
Pensions and employee benefits companies within the JLT Employee Benefits group of companies include: JLT Benefit Solutions Ltd, Profund Solutions Limited, JLT Wealth Management Limited, JLT Investment Management Limited and Independent Trustee Services Limited. JLT Employee Benefits is part of Jardine Lloyd Thompson Group plc.
About Jardine Lloyd Thompson Group plc
Jardine Lloyd Thompson is one of the world's largest providers of insurance and employee benefits related advice, brokerage and associated services. JLT's client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in 39 territories with some 9,000 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.