Third sector pension provider The Pensions Trust has announced the selection of AllianceBernstein for its new auto-enrolment offering.

SmarterPensions, the new defined contribution (DC) concept, will provide the platform for its 'qualifying workplace pension schemes' and will offer auto-enrolment compliant DC schemes.

It is currently set to be launched will be launched in March 2013.

The SmarterPensions schemes will use AllianceBernstein's Target Date Funds strategy as a default to ensure a more tailored investment approach for members.

The Pensions Trust will also offer Ethical Fund options including Ethical Target Date Funds, which is believed to be the first of its kind offered in the UK and will use the FTSE4GoodFunds and UK government gilts to provide the required growth and risk characteristics.

Stephen Nichols, chief executive of The Pensions Trust, said: "The Pensions Trust, with its investment provider AllianceBernstein believes that if people are not going to be disappointed with their pensions, they must have an investment product which is flexible and adaptable, aiming to change according to circumstances. As a result, we have picked Target Date Funds as the optimum default fund solution for those looking to save for retirement."

Tim Banks, head of DC client relations at AllianceBernstein, said: "We are delighted that The Pensions Trust has chosen our Target Date Funds range as the new default strategy for SmarterPensions. Target Date Funds are becoming the default fund of choice as trustees value the greater investment sophistication, flexibility and straightforward processes when selecting the best pension outcome for their members. In addition to our innovative Target Date Funds range, we will also be providing, what we believe to be, the first Ethical Target Date Funds range in the UK for those employers accessing the ethical option."

First published 08.11.2012

azeevalkink@wilmington.co.uk