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Open banking. Could this be the perfect parallel for the pensions dashboard?

By Daniel Taylor, Client Director | 22/10/2019 | Article

We’re starting to see the first results now, since open banking came on the scene 18 months ago, and there are lessons the pensions industry will want to take on board when it launches its pensions dashboard.

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Power Hands

Taking the power of admin into your own hands

By Taylor Smith, Client Relationship Manager | 10/09/2019 | Article

Administrators have spent a long time pleading for a more prominent position at the trustee table. Asking for more time, more consultation and more input into decision-making so that the practicalities of implementing real-world change can be properly considered.

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Give Us Credit

Give us credit: Why schemes need to make use of service credits in admin

By Daniel Taylor | 19/08/2019 | Article

Service credits are a useful feature of administration contracts, tying performance with fee levels, but they are rarely used. Daniel Taylor argues why more contracts should include them.

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Avoiding environmental catastrophe is not just about investments

By Dan Taylor, Client Director | 24/05/2019 | Article

Damning predictions on the impending impact of climate change have led to a renewed focus on environmental concerns across the vast majority of industries. The pensions administration industry, however, has been less affected than most.

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Web adoption in pension communications: separating fact from fiction

By Katie Stone, Client Relationship Manager | 23/05/2019 | Article

When considering online pension communications, there is a tendency for trustees and sponsors to make assumptions about the preferences of different membership demographics. However, recent research proves that many common assumptions about certain age groups or industries aren’t entirely accurate.

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Service management: A move from quantitative to qualitative key performance indicators (KPIs)

By Garry Wake, Managing Director | 25/03/2019 | Article

In recent years, we have seen a distinct trend in the way success is measured. Outsourced pensions administrators were heavily reliant on quantitative information, and largely focused on time and volume as the primary measures of success. Whilst this was, of course, an easy way to measure the service, it was too simplistic.

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Dont Fear

Don't fear the 'T' word

By Karla Bradstock, Client Relationship Manager | 07/03/2019 | Article

At the start of 2018, it looked like the upward trend in Defined Benefit (DB) transfer activity was set to continue. Despite sound predictions, activity started to tail off towards the end of the year, which raises the question - has the DB transfer bubble finally burst?

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Mortality screening: What you need to know

By Claire Montgomery, Client Projects Manager | 26/02/2019 | Article

We do not like to talk about death. Even though it is part of an administrator’s daily routine, it is a subject many of us prefer to avoid. But the truth is, mortality screening is a fundamental part of pensions administration, and without it pension schemes would be a mess of overpayments, recovery procedures and wasted money.

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Does service consolidation really make things more efficient?

By Toby Clark, Client Relationship Manager | 24/01/2019 | Article

Much debate has been had on the subject of consolidation recently. For smaller schemes especially, the benefits of streamlined processes, reduced operational fees and simplified governance structures are very seductive. Toby Clark, Client Relationship Manager, takes a look at the reality of service consolidation.

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Back to the future

By Gillian Hickey, Implementation Project Manager | 07/12/2018 | Article

Gillian Hickey, Implementation Project Manager, takes a look at the recent GMP equalisation ruling and has a funny feeling that we've been here before...

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DC, not as easy as ABC

By Greg Rice, Member Services Manager | 23/10/2018 | Article

Administration of defined contribution schemes (DC) is often quoted as being easy or simple when compared to their more mature defined benefit (DB) counterparts. “It’s just like running a bank account” and “all you have to do is multiply one number by another,” are two of the most common remarks associated with administering this type of arrangement.

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Considering consolidation? Act now

By Daniel Taylor, Client Director | 19/10/2018 | Article

With the question of consolidation no longer if, but rather when, Trafalgar House warns schemes to act now if they are considering consolidation, outlining the possible implications for administrators and how to best prepare.

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Where there’s blame, there’s often no claim

By Garry Wake, Managing Director | 10/10/2018 | Article

When a pension scheme changes administrator, one universal truth applies: data issues and historical errors will be uncovered. First-hand experience of countless administration transitions has taught me that if schemes change administrator, then at least one of a handful of common issues will be uncovered.

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Using robotics to maximise the quality of advice for members

By Daniel Taylor, Client Director | 11/09/2018 | Article

Ever lied to your doctor? Exaggerate the amount of sunscreen you use and downplay the junk food and units of alcohol consumed? Don’t feel too upset, we’re all at it.

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Freedom, choice and equality

By Taylor Smith, Client Services Associate | 17/08/2018 | Article

Taylor Smith discusses the momentum that is gathering behind the Daily Mail campaign to allow people to commute annuities purchased before April 2015.

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Think long-term when refreshing your scheme’s admin strategy

By Garry Wake, Managing Director | 01/03/2018 | Article

The word ‘strategy’ is most commonly associated with investment or derisking; rarely is any consideration given to a scheme’s administration strategy.

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In or out?

08/02/2018 | Article

At a time when ensuring data standards is ever-higher on trustees’ agendas, this Pension Age article considers the pros and cons of outsourced versus in-house administration.

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Three things you need to do in 2018 to get to buy-out

By Karla Bradstock | 05/01/2018 | Article

Top of the 2018 ‘to-do’ list for many DB trustees will be planning the process to achieve buy-out. In our latest Pension Funds Online article, we take a look at three key administration actions that should be considered before starting the buy-out process

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Are we focusing on the wrong type of online engagement?

By Toby Clark, Client Relationship Manager | 11/12/2017 | Article

We take a look at the topical issue of online engagement from the industry. With the focus on members, the piece will ask whether the industry should stop simply trying to engage a disengaged DB membership base and instead focus on what client portals can bring to sponsors and trustees (both DB & DC)?

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Why do well-funded small schemes struggle to reach buyout?

By Gillian Hickey | 08/08/2017 | Article

Read Gillian Hickey's Pensions Expert article about why well-funded small schemes sometimes struggle to reach buyout.

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How to successfully manage your administrator

By Greg Rice | 26/07/2017 | Article

The relationship between trustees and their scheme administrator is critical to good pensions governance. But are both sides focusing on the right details? Greg Rice, member services manager at Trafalgar House, gives some tips

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To outsource or not to outsource

By Dan Taylor | 10/07/2017 | Article

In this article featured in Professional Pensions, Dan Taylor asks whether schemes should outsource for the first time or stay in-house.

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Admin transitions: Avoid the sting in the tail

07/06/2017 | Article

In this Pensions Expert Article, Joe Anderson sets out the steps that all schemes should take now to avoid costly transition fees when moving administrator

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End of the 'one-stop shop'

By Garry Wake | 15/06/2017 | Article

Garry Wake reveals some often-overlooked disadvantages to using one provider for both administration and actuarial work

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How has freedom and choice affected transfer behaviour?

By Joe Anderson | 31/03/2017 | Article

We take a statistical look at DB transfer quotations, payments and destinations since the introduction of freedom and choice in 2014

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Four things to talk to your administrator about

09/02/2017 | Article

Here are the four things Trustees should talk to their administrators about to make the most of meetings

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Autumn Statement: What the Chancellor should do for pensions

17/11/2016 | Article

In this article from Professional Pensions, Garry Wake considers what's in store for the Annual Allowance as the industry gives its thoughts on the upcoming Autumn Statement

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The record holders always win

02/11/2016 | Article

We take a look at the key data items that pension schemes should consider before embarking on a de-risking project

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Chain's as strong as its weakest link

By Steve Wright | 26/04/2016 | Article

In the relentless battle to protect employee data in all its forms, companies need to be ever-vigilant and on the front foot, to ensure that both they and their suppliers are equipped to meet the ever-changing demands of cyber security.

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The GMP reconciliation deadline is fast approaching – how to get there if you’re late.

By Gillian Hickey | 02/03/2016 | Article

We’ve known for a long time that the abolition of contracting-out in April 2016 means every contracted-out scheme needs to go through a GMP reconciliation sooner or later.

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Meeting the Expectations of the 21st Century Pension Scheme Member

By Garry Wake | 01/03/2016 | Article

Change is a word we’re very used to in the pensions industry. There have been so many changes over the last couple of years alone, that it can sometimes feel like a struggle to keep up.

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PMI News - Admin's role in getting members to freedom

By Joe Anderson | 01/02/2016 | Article

The policy of bringing greater freedom to pensions benefits has been largely accepted as a positive step. But whilst it’s easy to simply announce the idea, for those doing the hard work to actually make it happen there is lots to consider.

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