Schemes and their administrators have rightly received much praise for ensuring that pensions have continued to be paid in full and on time during an unprecedented period of disruption.
Yet, despite the hard work of many across the industry, the last few months have exposed challenges with existing administrative processes. This, coupled with the uncertainty of potential future disruption and the fact that they will have to be ‘dashboard ready' by 2022, has prompted many schemes to accelerate their digital strategies and reinvent how they interact with members.
Our expert panel - Premier Pensions Management head of pension administration Girish Menezes; LexisNexis Risk Solutions senior business development manager Luke Davies; RPMI director of administration Neil Brady and Origo commercial director Richard Clark - will discuss whether accelerating digital strategies, driven by the dramatic shift in operating conditions, could provide a quantum leap for the pensions industry that enables improved services for members, increased security against pension scams and ensures data is prepared for the dashboard deadline.
The webinar will also look at how schemes communicate with members, reconnect with those who have ‘gone away', manage bereavement claims and defend themselves - and their members - against fraud and ask how moving to a digital strategy can transform these processes for the benefit of all concerned.
The panellists will additionally provide insight on how trustees and administrators can catalyse this transformation by getting the fundamentals right, ensuring their data is in order for the move and overcoming old habits to improve processes and provide a better member experience.
To register to attend this free webinar, visit: https://webinars.professionalpensions.com/digitalising-the-pensions-industry/register
Schemes could be charged a £1.5bn bill to equalise past defined benefit (DB) scheme transfers after last year’s landmark GMP equalisation ruling, says Buck.
Cosan Consulting has launched independent pension scheme data recovery service, called Arm.
The Pensions Dashboard Programme (PDP) has issued an invitation to tender for digital architecture suppliers to design and implement the ecosystem that will allow dashboards to work.
Member engagement with pensions improves by nearly a third through the adoption of digital solutions, according to Buck.
The pensions industry should “take advantage of our increasingly connected society” to drive enhancement in pensions, PTL says.