All Administration articles – Page 18
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Features
Automation improves insurer scheme admin but work still to do
The Royal Insurance Group Pension Scheme has reported a “considerable improvement in service” from administrator Willis Towers Watson, after two years of problems that have hurt the scheme’s ability to service transfer requests.
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OpinionWhat the regulator’s corporate plan means for pensions administration
At the start of May the Pensions Regulator published its corporate plan for 2018-2021, outlining some of the key areas of focus that would drive its aim of becoming “clearer, quicker and tougher”.
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FeaturesSouth Yorkshire builds dashboard to remedy data backlog
The South Yorkshire Pensions Authority has developed a dashboard to help monitor information as part of a development plan to solve its longstanding data woes.
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News
Mastertrust transfers and charges blasted in ‘worst in pensions’ study
Two of the UK’s largest mastertrusts have been named the worst performing providers in pensions over high charges and slow transfer processes.
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OpinionPASA outlines five pillars of DC administration governance
While I hope we’re long past the stage where anyone sees DC administration as ‘simple’ accounting, there is not, to my knowledge, any single source setting out the components and associated governance.
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OpinionHow to cope with increasing regulatory burdens
From the blog: Good governance is the bedrock of a properly functioning trustee board. However, it is evident that trustees are struggling under a governance burden, which stems from the need to comply with increasing legal requirements and ever more Pensions Regulator publications.
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OpinionLGPS shared services: Loss of control or efficiency booster?
Consolidation is undoubtedly a buzzword in the pensions industry at the moment, as schemes look for ways to lower costs, increase efficiency and improve governance.
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OpinionTo transition or not to transition, that is the question
If your relationship with your pension administrator is on the rocks, there are several things you should consider.
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Features
Isle of Wight fund tackles 'problematic' data records
The Isle of Wight Pension Fund has implemented an improvement plan in relation to approximately 1,500 records containing “significantly problematic” conditional data, as it grapples with longstanding issues over member information.
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News
Regulator threatens greater discipline over poor admin
The number of public service pension schemes disclosing inadequate processes for monitoring data accuracy and completeness has risen, as the Pensions Regulator pledges to clamp down on those falling below the standards it expects.
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OpinionSelf-driving pensions are worth our consideration
My 17-year-old daughter is writing an essay on whether human rights should be extended to robots – not as ridiculous a question as it may first appear.
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News
Chatbots, GDPR and scams: Is admin in for a sea change?
Technological advances could mean pensions administration is about to become a lot sexier, but while cyber security evolves humans still need education if the industry is to protect pensions data and money.
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FeaturesHertfordshire bungles scheme actuarial reports
More than one hundred academies and colleges participating in the Hertfordshire County Council Pension Fund have been sent erroneous actuarial reports. These were subsequently used in the preparation of their own financial accounts.
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FeaturesHounslow drops Capita and heads for West Yorks
The £991m London Borough of Hounslow Pension Fund will enter into an administrative partnership with the West Yorkshire Pension Fund following the imminent conclusion of its contract with third-party administrator Capita.
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OpinionIs a TDF approach right for your scheme?
Target date funds have proved popular on the other side of the Atlantic for defined contribution pension schemes, but to date have not had the same success in the UK.
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News
Govt 'tempted' by latest Royal Mail CDC proposals
The Department for Work and Pensions is “tempted” to lay regulations facilitating the creation of collective defined contribution schemes, following a recent breakthrough by the team drafting proposals on behalf of Royal Mail.
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NewsMineworkers receive tax demands after admin error
Members of the £11.4bn Mineworkers’ Pension Scheme have received notices from HM Revenue & Customs incorrectly telling them that they owe thousands of pounds in tax.
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OpinionThink long-term when refreshing your scheme’s admin strategy
The word ‘strategy’ is most commonly associated with investment or derisking; rarely is any consideration given to a scheme’s administration strategy.
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FeaturesBMA rebukes NHSE and Capita over admin 'fiasco'
The British Medical Association – the trade union and professional association for doctors and medical students – has been lobbying for improvements to the administration of the NHS Pension Scheme after member complaints and a motion by GPs last year to address issues with third-party administrator Capita.
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OpinionTo improve admin we need solutions, not resolutions
When high-profile cases expose bad practice, we wonder how on earth it has been allowed to happen and, rightly, we resolve to improve it.