UK - Third-party administrator MNPA has moved all of its clients on to Comino's new process-based administration system, UPM.
MNPA said it was now in a position to develop future products and services.
The move follows the launch of the £2.5bn Merchant Navy Officers’ Pension Fund’s – which owns MNPA – two career average scheme sections, which cover 85,000 members.
MNPA looks after the administration of over 150,000 members covering defined benefit, defined contribution, hybrid and career average designs using the UPM system.
MNPA managing director Sue Applegarth said: “The migration to UPM hasn’t been without its trials and tribulations and it is a huge achievement for all those involved, both at MNPA and Comino. The time and effort involved in making that move is enormous.
“However, it is vital to make such an investment from time to time and take advantage of the latest technology to keep a competitive edge. All our clients are now administered using a new generation of software, putting us in an enviable position.”
Operations director Sarah Sex commented: “Getting all of our clients on to leading edge technology was one of our key strategic objectives. Having achieved this, we have a very strong foundation from which to develop our services in the future.”
Comino director Mick Jennings congratulated MNPA on its “tremendous achievement” and said it would now be able to provide “ultimate flexibility and control for clients”.
In this week's Pensions Buzz, we want to know if The Pensions Regulator (TPR) is taking the right approach by naming and shaming schemes which breach their auto-enrolment (AE) duties.
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