US - Colorado Public Employees' Retirement Association (PERA) has come out on top of a survey measuring service and costs among international and US pension funds.
PERA, the 25th largest pension plan in the US with assets of $40bn, performed well in terms of call outcomes, call wait times, online capabilities, as well as 100% of pensions being incepted without a cash flow interruption to new retirees.
In addition, its administration costs decreased 3.3% per year during the last three year period. PERA's total adjusted administration cost was $57 per active member and retiree, compared to the peer median cost of $73.
This week's top stories included Legal & General acquiring MyFutureNow to provide a dashboard service to customers, while also agreeing a hybrid buy-in with a Hitachi scheme.
NEST has signed up to the government-backed Star Initiative, taking all of its 8 million members' pension pots with it.
It is perhaps inherently difficult to find an agreed definition of value for money, but some methodologies could act as a stopgap, argues Jonathan Stapleton.