Profund is launching an automated end-to-end administration system designed to streamline pension payroll processes for defined benefit (DB), defined contribution (DC), career average revalued earnings (CARE), and hybrid schemes.
Named oPen2, it calculates benefits directly from administration benefit sources and automatically outputs all types of benefit payment extracts and HM Revenue & Custom's Real Time Interface (RTI) files....
The dashboard is reliant on all schemes having data readily available, but this is not yet the case for many DB schemes. Paul McGlone says this is a challenge the industry must work to overcome
The Pensions Administration Standards Association (PASA) has issued special guidance for administrators as they grapple with the Covid-19 crisis.
Quietroom's Simon Grover gives five communication tips on what pension schemes can do to reassure their members about the effects of the coronavirus pandemic.
The reconciliation and rectification sub-committee of the Guaranteed Minimum Pension Equalisation Working Group (GMPEWG) has published guidance on when to rectify for the effects of equalisation.
Business resilience is not just ensuring people can work from home, but that administration can continue without human help, says Kim Gubler.