UK - Software that allows occupational pension schemes to add forecasts of an individual's state pension to annual benefits statements has been launched by Aqera.
The software solutions company claims that its service – which has been preceded by extensive testing of the compatibility of the Department for Work and Pensions systems with Aqera’s iPensions software – is the first of its kind.
Aqera managing director Ed Holt said: “The benefit to consumers of improved, personalised pension information is significant and demonstrable.
“This is a great opportunity for pension providers to improve the service to their customers, and to encourage increased contribution levels.”
The Aqera iPensions solution can provide private and state pension details either as a printed document or through an internet connection.
Its internet service will also enable scheme members to model different pension scenarios, such as the effect of early retirement or increased pension contributions.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.