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 edition of Professional Pensions is out now.
Ben Gunnee reflects on 2018 and talks about the Fiduciary Management trends to keep an eye on in 2019
Lloyds Banking Group secured 630,000 new pension customers last year, according to its 2018 annual results.
Guy Opperman has rejected calls to speed up changes to auto-enrolment (AE) despite increasing pressure to boost contribution rates and overall savings pots.