The Society of Pension Consultants has set up a network to give in-house administrators access to its expertise.
The society said several in-house administrators had expressed interest in the work of the committee but were precluded from membership under SPC rules.
The SPC’s new network – which is scheduled to launch next month – will enable interested parties to keep in touch with the work of the administration committee and take part in its activities.
The Coal Pension Trustee Services and Diageo Pension Scheme have already signed up to the network.
SPC general secretary John Mortimer said: “The SPC administration committee provides a centre of expertise drawn from third-party administrators with a direct role in the day-to-day running of pension schemes.
“There are many groupings in the pensions industry with an actuarial, investment or legal slant, but we believe the administration committee is the only one of its kind that looks at the nuts and bolts of running a ‘real world’ occupational pension scheme.”
Coal Pension Trustee Services benefits manager Michael Furbank said he hoped the network would raise the profile of pensions administration.
He said: “The administration profession needs a higher profile when lobbying government – as enjoyed by actuaries and lawyers – and the network is a welcome step forward.”
For an annual fee of £495 network members will receive copies of committee minutes, be able to attend three meetings a year to be briefed on current work and have the opportunity to subscribe to the society’s document service which monitors forthcoming legislation and regulatory developments.
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