Our administration service

These include:

  • day-to-day pension scheme administration
  • pension scheme accounting and cash management
  • pensioner payroll services
  • scheme secretarial services
  • data audit
  • specialist training for in-house pension scheme administrators
  • member helplines
  • online services
 

 Overview

 

We view pensions administration as a people process which is supported by technology and we have created a culture in which our staff can develop and thrive. Members expect things to be “right first time” as part of a high quality service. Our core proposition is to provide the highest quality and most accurate service possible. We do this by ensuring that our administration teams are highly trained and follow well documented procedures, and that they demonstrate the core values of our quality driven culture at all times. We follow a “right first time” approach to our administration in all that we do.
 
Pension administration systems are a critical ingredient in the ability to provide a quality service. Our administrators are supported by industry leading technology including our administration platform, PenScope, which was developed by us in house and is now owned and maintained by the pensions software and database company, ITM. We have created a high level of systems integration and automation centred around PenScope and our Electronic Document Management and Workflow system, based on market leading IBM FileNet software. Extending from the core system are a number of interfaces to third party software solutions such as the Altus Instruction Gateway and CashFac Virtual Banking Technology. 

 

 

 Insights & views

 
    Corporate Bulletin Quarter 2 2014
    8 July 2014
    Welcome to this new edition of our quarterly bulletin aimed at defined benefit (DB) sponsors. We provide an overview of market conditions and the range of accounting assumptions sponsors may wish to use for their interim or annual disclosures at 30 June 2014 alongside market news regarding pension buy-outs and de-risking.
     


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    Corporate Bulletin: Quarter 1 2014
    3 April 2014
    Welcome to this new edition of our quarterly bulletin aimed at defined benefit (DB) sponsors. The recent budget has hit the headlines with some real implications for employers and their pension scheme members. We also talk about the financial conditions at 31 March 2014 and how these might impact pension disclosures at this quarter end alongside market news regarding pension buy-outs and de-risking.
     


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    Lifetime allowance: Fixed and Individual Protection 2014
    3 February 2014
    From 6 April 2014 the lifetime allowance (LTA) will be reduced to £1.25m from the 2013-14 tax year level of £1.5m. If your scheme members have already built up pension savings of more than £1.25m (including taking into account pensions already in payment), or have planned to do so in the expectation that the lifetime allowance would not reduce from the 2013-14 level, there is a new form of protection called ‘Fixed Protection 2014’ (FP2014). FP2014 must be applied for by 5 April 2014.

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    New protections from the lifetime allowance charge
    15 January 2014
    The Chancellor of the Exchequer announced in his 2012 autumn statement that the lifetime allowance would be reduced from £1.5m to £1.25m with effect from the 2014/15 tax year. HM Revenue and Customs (HMRC) have subsequently confirmed that there will be two new types of protection available for individuals affected by the reduction: fixed protection 2014 (FP14) and individual protection 2014 (IP14).

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    2014/15 PPF levy Determination
    8 January 2014
    On 11 December 2013, the Pension Protection Fund (PPF) issued its Determination confirming the final details of the 2014/15 levy. It also issued a Policy Statement summarising responses to the earlier consultation and explaining the decisions made.

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    Visit the Industry Insights page for news and views on the latest industry developments
 

 Online services

 
    MyPension.com
    MyPension.com is Punter Southall's website for providing clients and members access to their pension benefits online.
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    PS Planner
    An interactive web-based retirement planning assistant for members of defined contribution pension schemes.
    Read more
    Visit the Online services area to access our full range of online modelling tools and facilities
    Speak to us

    Speak direct to our specialists in this area
    Damian Magee
    Or call us on
    020 3327 5000