PIPA 2012 was a night of well-earned celebration at the Sheraton Park Lane Hotel. Listed to the right are the scheme services winners.
The Winners - Scheme Services Categories
Auto-enrolment consultant
Winner: Hymans Robertson
This new category for 2012 attracted a number of strong submissions. Hymans Robertson stood out for setting thought-leadership which the rest of the market is now following.
Auto-enrolment provider
Winner: The Pensions Trust
Another new category for 2012. The Pensions Trust impressed by going to great efforts to educate, inform and support many hundreds of employers and to develop their schemes to meet the needs of auto-enrolment.
Communications specialist
Winner: Aon Hewitt
Highly commended AHC
AHC had a bright and engaging submission that showed strong client work that was cost efficient, while Aon Hewitt demonstrated a complete toolkit in the engagement of the workforce, ranging from one-to-ones to social media approaches.
DC investment only
Winner: Alliance Bernstein
Alliance Bernstein impressed for its flexible target date funds, and the ways in which they extended its retirement solutions in 2011. The judges added it was truly refreshing to see a firm clearly setting out how its product would have reacted during the market conditions in 2011, and what this meant in terms of the savings pot for people of different ages.
DC bundled services
Winner: Legal & General
Legal & General provided “without a doubt the best submission; a well balanced paper that showed true support in terms of the wider consultancy market”, said the judges. Good client quotes and a desire to keep improving across the board through benchmarking also stood out.
Corporate Platform provider
Winner: Legal & General
Highly Commended: Scottish Widows and Mercer
Scottish Widows stood out for the development of its mymoneyworks technology, and Mercer for the launch of its workplace savings platform. But Legal & General impressed most for its continued focus on the needs and experience of members, and the expansion of its worksave platform.
Flexible benefit solutions and total reward
Winner: Staffcare
Staffcare was chosen for a clear focus on technological integration and development through 2011. This has resulted in the delivery of an all-round employee benefits platform which provides a seamless and cost effective user experience.
Employee Benefits Consultant
Highly Commended: JLT
Winner: PricewaterhouseCoopers
JLT was recognised for introducing modelling solutions for the benefit of clients wishing to understand the impact of derisking strategies, as was its adaptation of the existing software platform in readiness for auto-enrolment.
But PwC won the judges’ hearts by building on their reputation for offering a multi-discipline approach for clients - covering pensions, reward, employment and employee tax. This firm, the judges said, has gone the extra mile.
Investment consultant
Winner: Cardano
Highly commended: Mercer
Cardano was championed for highlighting their clear approach to managing performance and risk relative to each of their clients' unique criteria.
Actuarial consultant
Winner: Aon Hewitt
Highly Commended: Punter Southall
Punter Southall impressed for its new appointments and client retention, and innovative work with the PPF. But Aon Hewitt succeeded over its peers as a result of their proven approach to actuarial consulting using a combination of technical experts and innovative technology to provide clear, simple and good advice in a range of complex areas.
Pensions Administration software
Winner: Xafinity Claybrook
Xafinity was praised for transforming the organisation so their collaborative innovations work for clients, rather than being sold to them.
Pensions Law Firm
Winner: Squire Sanders
Highly commended: Norton Rose
Norton Rose was highly commended for its work on provision of security for a UK scheme through a pan-European IORP.But Squire Sanders impressed with work undertaken to effect ground-breaking derisking strategies in the public sector; for its efforts made to change the law for another client previously excluded from PPF entry and for going above and beyond client expectations for work on a PPF scheme rescue.
Third Party Administrator
Winner: Capita Hartshead
Highly Commended: JLT and Xafinity
In the most hotly contested category of the entire PIPA awards, Xafinity and JLT were both commended for their innovation and client focus. Capita Hartshead though won for demonstrating its capabilities across its service delivery lines and for an overall innovative and collaborative approach.
Buy-in/buyout provider
Winner: Rothesay Life
Highly Commended: Legal & General
The LIDBA proposal from Legal & General impressed the judges, as did its novel ways of approaching smaller schemes.
But Rothesay Life stood out for its approach to PPF-related buy-ins and buy-outs and its speed and data caps.
Buy-in/buyout consultant
Winner: LCP
LCP has continued to demonstrate growth, thought leadership and innovation in 2011. The judges particularly liked the development of minimum contract terms to help clients achieve better contractual positions. They have also launched a pensioner buy-in package for smaller schemes.
Global Custody
Winner: Northern Trust
The judges praised Northern Trust for its continued focus on client service and its technology solutions and flexibility in approach.
Independent Trustees
Winner: ITS
ITS had a very successful 2011 - its contribution ranged from developing ground breaking solutions such as the deal to save Uniq to improving working practices for trustee boards to ensure effective delivery of governance and risk management.
Covenant Review Provider
Winner: PricewaterhouseCoopers
PwC demonstrated a forward thinking approach providing advice that allowed their clients to keep one step ahead. The judges were particularly impressed by their handling of Nortel. They said: “Few organisations would have had the strength and depth to run such a case. The regional focus also helps cover the market for smaller and mid-size schemes.”
Fiduciary Manager
Winner: Mercer
The judges said Mercer demonstrated good performance and development of its products, which has helped to generate significant growth.
Pensions Accountant
Winner: Baker Tilly
Highly Commended: Grant Thornton
Grant Thornton provided evidence of a good year in terms of innovation on data interrogation, fund selection and separating the materiality of DB and DC in their schemes. Baker Tilly demonstrated an all round high level of service and the judges highlighted its exceptional effort on exposing the ever growing risk of fraud in the pensions arena.
Financial Services PR
Winner: MHP
The judges were impressed with the quality of the winner’s cases studies and for achieving exposure not just in the trade but across widespread national media. Its workshops with trustees on dealing with press enquiries also stood out
Pensions Week would like to thank everyone who entered the awards this year and the judges for their hard work. This year's scheme services judges were:
Peter Askins (ITS), Paul Charles (Isinglass Consultancy), Avgi Gregory (Muse Advisory), Kim Gubler (Kim Gubler Consulting), Clive Pugh (Burges Salmon), Mike Smedley (KPMG), Damian Stancombe (P-Solve), Emma Watkins (LCP), Anne-Marie Winton (Nabarros)
