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Trustees
Administration Services

Trustees ‒ Administration Services

We provide pensions administration services to a wide range of trust-based schemes:

  • Defined benefit
  • Defined contribution
  • Career Average Revalued Earnings (CARE)
  • Hybrid schemes

Each client has a designated administration team, comprising named individuals. This approach enables us to develop an in-depth understanding of each scheme and maintain long-term client relationships.

We will agree bespoke Service Level Agreements with clients to accommodate their varying needs. We continually work to improve our internal procedures and regularly discuss and implement possible alterations to our working practices if they will improve quality and efficiencies.

Being keenly aware of the need to be able to provide more independent verification of our quality, we have secured ISO 9001 accreditation for our administration, finance and pensioner payroll services, as well as the AAF 01/06 accreditation for our pensions administration and related IT services.

adapt

adapt is our income drawdown facility for trust-based Defined Contribution pension schemes. Developed in-house, we have the ability to tailor income parameters and underlying investment strategies to meet the requirements of our clients.

adapt enables members to:

  • Stop, start, increase or reduce cash withdrawals from their pension account;
  • Spread their tax-free allowance over time up until age 75;
  • Continue to invest their pension fund in tax-friendly investments after they retire;
  • Pass on remaining funds to their beneficiaries when they die; and
  • To choose when to buy an annuity.

Furthermore, members can transfer their pension account to another pension provider at any point.

Our fees for the use of adapt are met through an annual management charge applied to assets under management. This means that trustees can offer an income drawdown facility to their members at no cost to the scheme or the sponsoring employer.

Benefit Options

We have designed a member portal, Benefit Options, which is a secure website that members can access to retrieve information regarding their pension benefits. This system integrates directly with our pensions administration system via an intermediary database and can be used for defined benefit and defined contribution schemes.

Experience shows that the use of Benefit Options delivers:

  • Reduced calls on the time of HR and internal pension teams in dealing with member queries;
  • The ability for the member to engage with us directly, whether that is to inform us of a change of address or to change their investment instruction; and
  • Online access to member information at any time, including educational materials, payslips and benefit statements. This improves member engagement and their understanding of the value of the employer’s pension offering.

Find out more.