Where are all the pensions administrators when we need them?

Pensions administration has always been a crucial part of the day-to-day running of pension schemes but administration teams are currently facing increasing demands on their time and resources.

With risk transfer activity continuing at pace, pensions dashboards approaching and major data and GMP equalisation projects competing for many of the same specialist skills, capacity across the pensions administration industry is under growing pressure. At the same time, longstanding challenges such as skills shortages, legacy systems and data issues are adding to the strain.

So, where are all the pensions administrators when we need them and what can trustees and employers do to help?

In her latest blog for Pension Funds Online, our Consultant Sarah Bennett looks at some of the factors behind the current capacity crunch and why the pressures on administration teams are unlikely to disappear overnight.

Sarah also considers some of the practical steps trustees and employers can take to help ease those pressures. Good forward planning, realistic timescales and early engagement with administrators can all play an important role in managing workloads and ensuring that major projects do not come at the expense of the day to day service provided to members.

With so many significant projects and regulatory developments competing for attention, understanding the pressures facing administration teams and planning accordingly is becoming increasingly important for trustees and employers.

Read Sarah’s full article on Pension Funds Online:
https://www.pensionfundsonline.co.uk/articles/where-are-all-the-administrators-when-we-need-them