Our approach to quality
We believe we are best able to deliver high quality pension administration services if the people who work for us are happy and motivated. Our approach is team-based and friendly, and we are all committed to our clients.
 

 Overview

 

We have created a culture in which our staff can develop and thrive. We have held the Investor in People (IiP) accreditation continuously since 1997 - the most recent audit said we are a “delight to work with, an organisation which ensures all people feel welcomed and valued”.

The vast majority of our administration staff are PMI or QPA qualified or are studying for professional qualifications. This compares to an industry standard of around 15%*. Several of our staff have won national prizes for achieving the highest marks in the PMI exams.

We achieve and maintain high levels of member satisfaction by viewing pension administration as a people process supported by a system, and not the other way around. 

Our main focus is ensuring members get a good service from us and we continuously measure levels of member satisfaction by seeking feedback;

"Well done for writing letters and enclosures in plain English but not treating the reader as a dimwit."

"Very impressed with professional, courteous and efficient manner in which you arranged payment of my pension. Sincere thanks."

Importantly, we also provide clear, easy to understand member communications. Our standard retirement documentation has the Plain English Crystal Mark, a rare achievement amongst third party pension scheme administrators.

*As recently cited by The Pensions Regulator.

 
 

 Insights & views

 
    High Earners & Contributors: Survival Guide
    10 September 2012
    Update: September 2012
     
    We are now producing additional survival guides on some of the more technical aspects of the new taxation regime. If you would like to see any of these notes, please contact Sarah Tolson for a copy.

    14: Multiple Normal Pension Ages and the annual allowance
    13: Scheme pays in the year of retirement
    12: How deferred members may be caught by the annual allowance charge
    11: Using pension benefits to pay the annual allowance charge: scheme pays in practice
    10: HMRC provides further detail on fixed protection
    9: HMRC revises its interpretation of the carry-forward rules
     
    Further notes will cover topics such as on the ‘carve-out’ from the annual allowance for deferred members, the valuation of benefits for the purpose of the annual allowance and the new ‘scheme pays’ provisions.
    -------------------------------------------------------------------------------------------------------------
    In the 2009 Budget, the Government announced fundamental changes to the way that pensions will be taxed from 2011 for high earners and introduced immediate measures designed to prevent individuals increasing their pension savings in anticipation of these changes.

    These changes will affect not just high earning individuals but also companies, trustees and pensions managers. At the Punter Southall Group, we can draw on a range of expertise to enable us to provide advice to all of these parties. We can ensure that:
    • companies have the right remuneration strategy in place for their key staff;
    • individuals make the right decisions on their pension based on their circumstances; and
    • trustees can implement the new information and administration requirements effectively.
    We are now launching our “High Earners & Contributors: Survival Guide”. Through a series of straightforward and focused briefing notes, we will help you to develop an understanding of the changes ahead and keep you up to date with developments as they occur.
     
    Note 6: What do the annual allowance changes mean for pension schemes?
     
    Note 5: More detail on the tax changes emerges
     
    Note 4: Annual allowance approach confirmed  
     
    Note 3: HM Treasury consults on alternative approach  
     
    Note 2: Annual allowance: an alternative universe 
     
    Note 1: High earners: five key tax changes – will you be ready?
     

     

    Read more
    Removal of age 75 rule for retirement benefits
    4 July 2011
    On 6 April 2011, major changes came into effect regarding the way in which pension funds can be used to provide retirement benefits. Removing the requirement to purchase an annuity by age 75 means that, subject to scheme rules, members with defined contribution (DC) funds can now defer taking their benefits indefinitely. Funds can now be withdrawn on either a ‘capped’ basis or on an unlimited basis, so long as a ‘minimum income’ has been secured. Under HMRC rules, tax-free cash can now be paid after age 75, and lump sum death benefits can be paid on death after age 75 (subject to a tax charge).
     
    View the briefing note
    Read more
    The abolition of the default retirement age and the implications for pensions
    10 June 2011
    With effect from 6 April 2011, employers can no longer rely on the default retirement age (DRA) of 65. This briefing note focuses on what the abolition of the DRA means for the provision of pensions for older employees.
     
    View the briefing note
    Read more
    Clear Path Analysis - Data management roundtable
    1 September 2010

    Clear Path Analysis: Thank-you very much everyone for joining us on this roundtable today to look at the investment versus return of an outsourcing approach for data management. As we all know, the issue of data management is particularly ‘hot’ right now due to the upcoming ‘Record Keeping’ guidelines from The Pensions Regulator. On that note to begin us off, I’d like to ask Gillian, what stage do you believe pension schemes are at generally in preparing for The Pension Regulators

    View the article
     
    Read more
    Pensions Age - "The technological answers"
    1 September 2010

    During the last 18 months in particular, my colleagues at Punter Southall and I have seen an increased desire from clients for the reduction in running costs of pension arrangements. All professional fees, including administration fees, have been under pressure from trustees and employers.

    View the article
     
    Read more
    Pensions Age - "Two heads are better than one"
    1 September 2010

    Two heads are better than one; two of a kind; two's company, three's a crowd. Partnerships can be crucial to success, and no less so than in the case of pensions administration.

    View the article
     
    Read more
    Revised guidance on record-keeping standards
    9 July 2010

    The Pensions Regulator (‘the regulator’) has published revised guidance on good record-keeping. This guidance incorporates the proposals made in the consultation issued in February 2010. The regulator is disappointed with the adoption of the January 2009 record-keeping guidance by trustees and employers and is therefore taking a strengthened approach to the regulation of standards for member data.

    View the briefing note​
    Read more
    The Pensions Regulator consults on proposals for record-keeping standards
    1 March 2010

    The Pensions Regulator (the regulator) has revisited its guidance on good record-keeping which was issued in January 2009.The regulator is disappointed with the
    adoption of this guidance by trustees and employers and therefore published a consultation in January 2010 setting out proposals for strengthening the regulation
    of standards for member data.

    View the briefing note​
    Read more
    Visit the Industry Insights page for news and views on the latest industry developments
 

 Online services

 
    Pension administration system
    Our online web based services allow HR, payroll and in-house pensions teams to tap into employee information and carry our crucial processes efficiently and securely via the internet. Members can also be given access to view their own personal data.
    Read more
    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
    Richard Thomas
    Director of Pensions Administration
    Email Richard
    Or call us on
    020 3327 5000