Admin / Technology
DWP annual benefit statement consultation questions voluntary adoption
The Department for Work and Pensions (DWP) has launched a consultation setting out proposals for the adoption and launch of simpler annual benefit statements. Holly Roach reports
Trustees still unprotected and vulnerable to cyber risk
There is still no available guidance for trustees on how to incorporate cyber security risks in their investment and stewardship processes, according to NEST.
Data quality is pensions dashboard's 'weakest link'
The quality and availability of data is the “weakest link” for the pensions dashboard, according to the Society of Pension Professionals (SPP).
HMRC GMP equalisation tax guidance confirmed for December
HM Revenue and Customs (HMRC) has announced it will publish its long-awaited tax guidance specific to guaranteed minimum pension (GMP) equalisation in December.
HMRC guidance is the 'missing piece of the jigsaw' in GMP equalisation process
One year on from the landmark ruling on GMP equalisation, Holly Roach looks at how far the industry has come and what remains for schemes to do.
Widespread concern over complexity and cost of GMP equalisation, finds ACA
Employers are increasingly concerned about the costs and complexity associated with equalising guaranteed minimum pensions (GMPs), according to the Association of Consulting Actuaries (ACA).
Spend money on data to make dashboard beneficial, says industry
The industry needs to spend a significant amount of money on data and administration to make the dashboard worthwhile, according to pension professionals.
Pensions minister tells schemes to 'act now' on GMP equalisation
Schemes must “act now” to equalise guaranteed minimum pensions (GMPs), pensions and financial inclusion minister Guy Opperman says.
Data held by schemes 'not good enough for the dashboard'
The data the industry holds is not yet good enough for the pensions dashboard, industry experts say.
PLSA publishes retirement living standards to help savers 'picture their future'
The Pensions and Lifetime Savings Association (PLSA) has unveiled a retirement living standards tool to help members engage with their pension and set retirement targets.
Aegon debuts animated video summaries for members
Aegon has launched personalised animated video summaries for its members, in a bid to boost engagement.
Are we heading for a capacity crisis in admin - or are we already there?
With schemes facing more administration tasks than ever, it is important the industry attracts new talent to help with potential capacity problems, says Kim Gubler.
Exclusive: EY launches fiduciary manager selection dashboard
EY has launched a digital dashboard allowing trustees to more easily narrow the field of potential fiduciary managers before a tender process.
No one-size-fits-all for GMP equalisation
The GMP Equalisation Working Group has published its first guidance note to assist schemes in undertaking the process. Holly Roach discusses what schemes should do next
GMP Equalisation Working Group publishes methodology guidance
The cross-industry GMP Equalisation Working Group has published guidance outlining methods schemes could use to equalise for the sex based inequalities of GMPs.
MAPS establishes steering group with ten members to take dashboards forward
The Money and Pensions Service (MAPS) has made ten appointments across the pensions and wider financial sector to work on the practicalities of establishing pensions dashboards.
Taking administration back in-house
While in-house administration comes with its own challenges, for some schemes it can have significant advantages over third-party providers, argues Philip Dickinson
GMP equalisation now top priority for schemes
Guaranteed minimum pension (GMP) equalisation has soared to the top of pension schemes' to-do lists, with 58% stating it is a priority project, research from Equiniti has revealed.
Pension administration needs to be taken more seriously
KGC Associates' administration survey revealed the industry thinks administration is not taken seriously. Holly Roach looks at the survey findings.
Give us credit: Why schemes need to make use of service credits in admin
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.
Exclusive: Cosan Consulting launches independent trustee executive support service
Cosan Consulting has launched an outsourced trustee executive support service to provide support independent from all other current provision.
Four ways administrators can prepare for McCloud
Framework is needed now to help remedy the age-related differences in public service pension schemes. Virginia Burke looks at what administrators can do.
Trustee enquiries about bundling admin and investment rise 50% at Aviva
Aviva has seen a 50% year-on-year increase in the number of enquiries from pension schemes that use investment and administration on separate platforms seeking to move to a bundled provider.
Balancing speed and security is key to DB transfers
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
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