Defined Benefit

Hymans Robertson is piloting a low-cost do-it-yourself data cleansing system for public sector clients facing funding cuts.

The software will be trialed by three local authorities over the coming months, allowing them to check through data when new staff join, or existing staff pay changes, altering necessary contribution levels.

Normally this would have to be done by the scheme consultant for a fee, but this move is aimed at saving organisations money, as their budgets come down, following the spending review.

Hymans – the largest adviser on pension issues to UK public bodies and schemes – head of public sector John Wright (pictured) said he was unable to discuss specific client contracts.

But he added the firm has been working with councils on a raft of efficiency measures since before the cuts were announced and was speeding up their implementation following the review.

“Even prior to the spending review, local government and other public sector bodies have been prioritizing pushing through efficiencies,” said Wright.

“Some of the things that we are looking at we had plans to do before, but the pace has been driven to a certain extent by the review.

“If there are, say, changes to employee numbers, that was previously something that you have to come to us for, so this is a direction of travel, and we are starting to pilot some things in that direction.”

The move follows the Treasury’s announcement last month, local authorities are to find ways to cut their expenditure by 25.6%, equating to nearly £7bn over the next four years.

Hymans Robertson is piloting a low-cost do-it-yourself data cleansing system for public sector clients facing funding cuts.