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....
This week's edition of Professional Pensions is out now.
Nearly 60% of UK employers consider defined contribution (DC) master trusts to be the "most suitable" pension fund for their employees, according to research by Buck.
Companies which have tried to dodge their pension duties by changing their identities are being "hunted" by The Pensions Regulator (TPR) in a crackdown on non-compliance with auto-enrolment (AE).
Removing liquidity restrictions would enable DC funds to capitalise on the potentially higher and safer returns that DB schemes have benefitted from, says Patrick Marshall.