Put simply, Standard Life’s Client Analytics Tool creates big picture insights to boost member engagement.

At the end of 2020 Standard Life launched a new tool to help advisers, employers and trustees make data driven decisions to assist in actionable insights and improve member outcomes. Over the last year and half since the launch, the tool has gone from strength to strength, with a new user experience and several new features.

The Client Analytics tool has now been rolled out to all suitable clients as part of a joint development they have undertaken with Tata Consultancy Services (TCS).

The Management Information tool comes free with a Standard Life pension and is accessible alongside their current Standard Life pension administration platform which gives employers the ability to carry out detailed analysis of their membership and interrogate member data at the click of a button.

The dashboard focuses on five key areas:

  • Providing data and analysis of the overall scheme summary
  • Aggregated member analysis
  • Information and insight on engagement levels
  • Quarterly summary
  • Retirement Living Standards

Each has an interactive dashboard for the employer, adviser, or trustee to navigate, including benchmarking so you can see how your scheme compares to others who have access to the tool. There are now twelve dynamic filters in place so that employers can look at their scheme members via a range of factors.

This includes a number of new filters for In Scheme Drawdown, Length of Membership and location.

Data protection of members is of paramount concern to Standard Life, which is why any personally identifiable data is removed and all data is aggregated to prevent individual member identification. The tool updates monthly and contains a rolling 12 months of data.

Scheme summary:

This displays an overall view of the scheme with graphical outputs detailing the number of members, average pot size, assets under management and total member contribution levels broken down by regular and single contributions as well as transfers in. This shows not only the numbers for the particular scheme in question, but also the average for all schemes held in Client Analytics as well as industry averages.

Each of the charts have additional new features to allow the user to select a favorite, allowing you to build up your own page or chart layout, which might be valuable for adviser users when playing back client information, and you can also now add unique user notes. The data can then be viewed as either a chart or table, which can be exported to Excel.

A great new addition is the ability to take the data from Client Analytics and link it to a client or scheme campaign, in order to use the data and insights to drive more meaningful actions.

Members page:

Here employers, advisers and trustees can take a deeper look at their members based on a range of factors, such as the value of their pot, which shows the member distribution by pension value over the last 12 months and a comparison again the Standard Life and industry benchmarks. This also looks at factors such as distribution by age, the geographical location (which has now been segmented by region rather than post code to allow for more targeted campaigns) and customer needs segmentation.

In the same way as the summary page, all the data can be extracted to Excel.

Engagement page:

This focusses more on digital engagement and looks at how members are interacting with their pension. It can highlight, for example, how many people have registered to have access to the member portal and logged in, who has opted for paperless communications, who has up to date member contact details and how many members have viewed their personalised video statement and how many watched to the end.

A nice feature is the ability to also see how many members have nominated a beneficiary, which again can be compared with both Standard Life and Industry benchmarks and it can also show how many members have contacted Standard Life digitally by secure message, over the phone or by letter.

Quarterly Summary:

The new quarterly summery screen provides key data of members and engagement for the last three months. This is currently evolving but can used to help with governance reporting.

This reports on a number of factors at a glance, including:

  • Total membership
  • Asset Under Management
  • Total money in
  • Active/Deferred members
  • Gender
  • Employees approaching retirement
  • Engagement statistics


Pension And Lifetime Savings Association (PLSA):

A fantastic new and really powerful feature is the PLSA Retirement Living Standards which went live in early 2022. This utilises the Client Analytics data to help employers, adviser and trustees understand if their members are on track for a comfortable retirement. This data can then be used to create campaigns to drive engagement with particular cohorts as and when required.

Taking the Minimum, Moderate and Comfortable bands, Standard Life are able to present back scheme information. This can be viewed in two ways; first as the data is currently, and then an advanced version which will factor in various assumptions, such as pension holdings outside of Standard Life (which can be understood from other data held in the tool) and what state entitlements there are.  

Standard Life have worked with the PLSA on these assumptions in order to hopefully create industry standards for the future.

Standard Life are now successfully providing employers, advisers and trustees with readily available access to information which would have been extremely time consuming (if not impossible) to pull together manually.

With access to this level of scheme data employers are better placed to deliver more tailored services to their workforce, which will hopefully drive better outcomes. Using the analysis, they will be able to target cohorts of their workforce and offer support to groups of people who might need guidance on subjects such as the Lifetime Allowance, those reaching retirement age, or improving member engagement.

We love this addition to the Standard Life workplace proposition tool kit and are pleased to see Standard Life have committed to a strategic goal to help improve customer outcomes.  This newly enhanced service is a step further to helping them achieve this. Well done to all involved.