We support in-house teams to approach pensions administration in new and effective ways.
Pension scheme administration is starting to be seen in a more flexible and modular way. Co-sourcing, or blending in-house and outsource solutions, could offer the best of both worlds; by combining the strengths that running schemes in-house and outsourcing can each bring. It allows you to keep full control over the scheme but shift out tasks that require more technical expertise.
In our latest Pension Scheme Insight Report, 58.2% of pensions managers surveyed felt that retaining administration in-house resulted in greater control but interestingly, 62.7% of the respondents saw access to technical expertise as a benefit of outsourcing, and 52.7% felt that it delivered better technology and workflow options. Our research revealed an interesting shift towards a blended approach, rather than a chiefly out-sourced or in-sourced model.
We provide flexible support solutions to over 50 in-house pension teams of all sizes across the private sector.
Formed in 1974 as an in-house team set up to establish and administer the Water Authorities’ industry-wide pension arrangements, we have over 40 years’ experience in the provision of high quality administration and related supporting services.
Our capabilities will give you the confidence that your individual pension scheme administration requirements are being supported by experts – resulting in increased service flexibility, risk control, scalability and certainty of cost.
Where schemes are looking to explore the outsourcing of their pension administration, one of the challenges for the third party administrator will be to demonstrate that the loss of day-to-day control will not be to the detriment of service. Co-sourcing helps schemes retain the ‘added value’ elements whilst outsourcing the more functional work.
63% of trustees state technical expertise is the biggest benefit of outsourcing. 53% highlighted better technology and workflow.
58% of respondents felt that retaining administration in-house resulted in greater control.
Our dedicated communication expertise encourages employee engagement.
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We can provide a range of specialist services on a standalone, flexible basis, including:
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According to Pension Scheme Insight Report 2016, co-sourcing could achieve the best of both worlds for some schemes – providing the paternalistic element that in-house brings, with the scale and capability that can be achieved through outsourcing.