Pension Administration
The primary objective of a pension scheme is to provide benefits and information to its members in a timely manner.
The administration service is the interface between a pension scheme and its members and our pensions administration team understand how important this is.
To provide you with a quality administration service we believe that the following elements are prerequisites:
- Effective use of technology – P3™, our administration software, is one of the most efficient pensions administration systems available in the market. The automated functionality it provides should assist in streamlining your scheme’s record keeping and communication.
- Quality Data – Data is the key to the administration of any pension scheme. In Spence & Partners’ experience many schemes did not have their records computerised until the early 1990s, and consequently historic data is often poor and incomplete. Our pensions administration team offer a unique data review service to ensure ongoing accuracy and provide a higher quality service.
- High calibre staff – scheme members and pension trustees must be able to contact knowledgeable administration staff who are prepared to take ownership of enquiries and resolve them in a timely and efficient way.
- Clear and concise communication – members should be able to obtain clearly presented information about their benefits.
