Admin / Technology
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.
We need legislation on DB transfers
Margaret Snowdon says the industry remains handicapped, regardless of multiple layers of protection adopted on a voluntary basis
GMP equalisation working group publishes call to action
The Guaranteed Minimum Pension Equalisation Working Group (GMPEWG) has published a call to action to assist schemes in the first stage of the process.
PASA launches DB transfer guidance
The Pensions Administration Standards Association (PASA) has launched guidance on defined benefit (DB) transfers to help give members better flexibility while retaining their pension benefits.
Revealed: The top five third-party administrators and software providers in 2019
This year's survey reveals how schemes assess the efficiency of TPAs and ranks the key providers. Holly Roach reports
HMRC working group confirms GMP tax guidance 'unlikely' before autumn
HM Revenue and Customs' (HMRC) guaranteed minimum pension (GMP) equalisation working group has revealed the guidance needed to avoid potential tax consequences will not be updated before the autumn.
Video: The next steps for GMP Equalisation
ITM director Maurice Titley looks at the next steps schemes should take on GMP equalisation.
Smart Pension launches simpler annual statement
Auto-enrolment (AE) provider Smart Pension has launched a simplified and standardised two-page annual statement, which members can view on its online app.
West Yorkshire selects Linedata Optima to drive digital transformation
The West Yorkshire Pension Fund (WYPF) has extended its 16-year partnership with Linedata, selecting the firm to lead its digital and back-office transformation programme.
GMP equalisation working group forms five sub-committees to draft guidance and drive progress
The industry-wide GMP equalisation group has created five sub-committees to each work on a key component of the guidance. Holly Roach reports
L&G deploys blockchain technology to streamline pension reinsurance
Legal & General Reinsurance (L&G) has launched what it claims is the UK's first pension risk transfer (PRT) execution platform to be driven by blockchain technology.
PSIG updates pension scam code with 10 changes
The Pension Scams Industry Group (PSIG) has updated its voluntary code of practice to reflect regulatory and legislative changes that have affected the industry over the last year.
PASA publishes trustee guidance after 'increasingly sophisticated' cyber attacks
Trustees must have a "clear view" of the increasing number and sophistication of security risks, the Pensions Administration Standards Association (PASA) says as it launches guidance on cyber-security.
Chris Curry appointed as dashboard delivery group principal
The Money and Pensions Service (MAPS) has appointed Chris Curry as principal of the Pensions Dashboard Industry Delivery Group.
Trustee boards should prioritise industry data issues
Trustee boards are not focusing enough on data issues despite the bad effect poor data can have on members, according to a PMI roundtable in May. Holly Roach reports
Industry backs 'gentle hand' of TPR supervision
The Pensions Regulator (TPR) is right to introduce new regulatory initiatives for 1,000 schemes as part of its clearer, quicker and tougher approach, this week's Pensions Buzz respondents said.
Salvus launches mobile app for members
The Salvus Master Trust has launched a mobile app for members after employers revealed they wanted their members to have more access to online tools.
Delivering best-of-breed administration
Girish Menezes says there is a tried and tested solution already available in the market, and it is time for the rest of the industry to follow.
HMRC delays crucial GMP data until end of year
HM Revenue and Customs (HMRC) has announced it is delaying the provision of data that will enable pension schemes to confirm the guaranteed minimum pension (GMP) benefits to pay to members until the end of the year.
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