Trafalgar House, the pensions administration specialist, have advised that two months on from the introduction of GDPR schemes need to ensure they have a response plan in place to deal with any data breaches, and provided some tips for establishing a working plan.
Employed-deferred members do not fit squarely into either the active or deferred box; they are a hybrid of both. They are a special type of member with their own particular needs and trustees should ensure that the contracts and processes of their administration provider reflect the unique needs of this group.
Remember that 90’s romcom where Mel Gibson could get inside the heads of women and find out what they were thinking? Their every thought, wants, and desires? Just imagine if pension administrators could do the same thing, and suddenly understand what scheme members really wanted! If we could only hear their thoughts and wishes, we could tailor our services to provide the solutions they crave...
Trafalgar House, the pensions administration specialist, has announced the launch of its new dedicated transition team. This comes in response to increased market demand and follows a sustained recruitment drive to bolster Trafalgar House’s existing team of specialists.
Trafalgar House is delighted to have been named Third-Party Administrator of the Year at this year's UK Pensions Awards.
Changing your pension administrator is a big deal. Let’s face it, most trustees are at least a little resistant to change given the complexity and perceived risk involved. Even with meticulous planning and research, plenty of headaches await should you fail to get it right.
For administrators, DB scheme closures have become routine and there are ‘three Cs’ that summarise much of the required activity; calculation, communication and crystallisation. However, despite all the experience and practice the industry has had in managing scheme closures, some common administration mistakes still crop up.
Some 100,000 defined benefit transfers took place in the 2017/18 financial year, according to estimates by the Pensions Regulator. This figure marries with the experience of pensions administrators, who have recorded significant increases in transfer activity since pension freedoms were introduced.