Pensions - Articles - Two thirds of Administrators involved in pension strategy

During the event attendees were asked, “What role does the administrator typically play in scheme strategy?” In response, a clear majority (58%) stated that the administrator is “partially involved” in scheme strategy, 10% of respondents indicated that the administrator is “fully involved” and less than a third (32%) said that the administrator is “not involved”.

 

In addition, pension professionals were asked, “Do you think the Guided Retirement provisions in the Pension Schemes Bill should also apply to Additional Voluntary Contributions (AVCs) in DB schemes?”. A majority of respondents (54%) answered ‘yes’ and 46% said ‘no’.

 

The event was attended by around 150 pension professionals who heard from a range of senior professionals with actuarial, covenant and trustee experience.

 

SPP member and Financial Risk Management Lead at Hymans Robertson, Gillian Baker, who chaired the event, said: “It’s great to see vitally strong support for the role of administration, with more than two thirds of pension professionals indicating the administrator is either fully or partially involved in the scheme strategy. However, there remains a job to do to increase this number further, given almost a third appear to have no involvement at all. This means schemes are missing out on valuable expertise and input, as well as potentially facing higher costs and delays further down the line because administrative issues may not have been fully considered.”