Mercer’s participant website, Mercer BenefitsCentral, now allows clients to “initiate, manage, and commence their pension plan benefit completely online.”
The new capabilities are targeted at large market defined benefit (DB) plans, Mercer says, providing participants with an alternative approach to joining the pension plan and managing/understanding benefit payments.
Website features help participants track their savings progress and compare available payment types within the DB plan. Participants are able to manually set how and where their payments should be sent, and they can upload any required documents or submit their commencement request for processing.
The firm notes the online tools already went live for 55,000 plan participants in October. In addition, Mercer BenefitsCentral is being made available to 189,000 health and benefits plan participants.
Matt Benjamin, participant experience leader for Mercer’s Benefits Administration Practice, highlights the participant website’s intuitive design, advanced personalization, and strategically developed education and decision support tools.
“Our online retirement functionality enables retirees to enjoy a seamless, hassle-free commencement experience,” he explains, “so that they can spend less time on their benefits and more time enjoying this stage of life with family and friends.”
More information is available here.