All Administration articles – Page 22
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News
Locum GPs call for pensions admin overhaul
Locum GPs are calling for an overhaul of their pensions administration as sporadic correspondence and scant communication cause confusion.
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OpinionGDPR: Why trustees need to take notice
Claire Bell explains how schemes should prepare to comply with the new data protection regulation ahead of its launch next year.
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NewsTfL adds online self-service in admin refresh
The Transport for London pension fund is introducing a new administration system that will give members a self-service option, something experts say can help reduce costs in the long term.
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OpinionAdmin transitions: Avoid the sting in the tail
Pension trustees should negotiate exit fees even if they are happy with their current administration provider, advises Joe Anderson from administration company Trafalgar House.
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OpinionData needn’t be a pain – if it has a strategy
From the blog: To say that data quality is poor in both occupational and other forms of pensions is an understatement, writes Duncan Howorth.
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OpinionHow have the freedoms changed pensions administration?
Tracy Weller from the Pensions Administration Standards Authority explores the effect that freedom and choice has had on schemes and administrators.
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FeaturesInvensys attempts to reconcile GMPs delayed by HMRC
Slow responses from HM Revenue & Customs are delaying efforts by the Invensys Pension Scheme to reconcile guaranteed minimum pensions, the scheme’s trustees have told members.
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OpinionThe risks of poor data governance
From the blog: Just when personal pension scheme administrators thought they understood and could confidently respond to the Financial Conduct Authority’s reporting requirements on members’ use of pension freedoms, the goalposts have been moved again.
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News
LGPS gets LTA and AA modelling tools, but tax complexity limits benefits
The Local Government Pension Scheme has introduced a check tool for members as the lifetime and annual allowances complicate life for those with large defined benefit pensions and higher salaries.
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News
Berkshire saves 600 hours with automated data exchange
The Royal County of Berkshire Pension Fund saved an estimated 604.1 hours of administrative work over six months, and ended its struggles with updating member data by introducing an automated data exchange.
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Features
Brexit, pooling and transparency: Top investment stories from 2016
Year in review: Investment fees and the impact of Brexit on schemes’ portfolios stood out among the most salient subjects for pension schemes in 2016, while the ongoing low-yield environment prompted funds to seek higher returns and cut back on costs.
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News
TPR's record-keeping push welcomed but stresses remain for small schemes
The Pensions Regulator is demanding that trustees report on record-keeping in the scheme return and has issued new guidance, after conducting a survey which found that too many are not measuring members’ data.
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NewsEarly exit charge cap attracts criticism and praise
Both the government and the Financial Conduct Authority have confirmed plans to introduce caps on early exit pension charges, but authorities should take care not to actively encourage early decumulation, experts say.
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FeaturesSouth Yorkshire admin issues highlight LGPS challenges
A number of local authority schemes have faced administration challenges and missed deadlines after implementing new software, as the provider struggled with capacity troubles.
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News
HMRC system changes ‘not catching anyone unawares’
HMRC is making software changes as part of ongoing plans to ensure its systems are up to date, but as long as pension administrators making pay-as-you-earn or pension scheme returns are prepared, they should not be too concerned, experts have said.
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FeaturesTelefónica rings the changes with pensions modelling tool
A new online pensions modeller is being launched for defined contribution members of the Telefónica UK Pension Plan, but some experts have questioned the benefit of such tools.
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NewsQuestions surround Bernard Matthews sale as PPF prepares to step in
Turkey producer Bernard Matthews has gone into administration, with the pension scheme expected to enter the Pension Protection Fund assessment period, but questions remain as to why the scheme was allowed to fail.
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NewsPensions Regulator: Cyber security should be key on risk registers
Trustee boards should be assessing their risk of cyber attack and taking steps to protect member data and scheme assets, the chief executive of the Pensions Regulator has said.
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News
New DC code of practice: Greater clarity, but niggles remain
The Pensions Regulator this week published its new defined contribution code of practice, clarifying its position on a number of issues, but experts still had questions about its criteria for assessing value for scheme members.
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Features
GMP top priority this year but trustees could be missing the bigger picture
Respondents to consultancy Capita’s ‘Pension scheme insight report’ cited guaranteed minimum pension reconciliation, member communications and derisking as their main concerns for 2016, but experts say there are more acute challenges that schemes fail to address.