Our approach to trustee services is simply smarter. We combine market leading technology with great customer service to deliver better outcomes for your scheme and your members.
You are under increasing pressure to provide better services to members, a strong governance framework whilst managing risk and expenditure.
You need services that are better coordinated, efficient and smarter in their delivery, with the trustees, company and advisers working in harmony. Services that are engineered to deliver promises. Knowing the basics are taken care of allows you to focus on the things that make a real difference.
The traditional ‘Old World’ model for supporting DB schemes has failed to develop.
There is:
A Spence study suggests that a typical pension scheme relies on 5 different systems, 4 major data manipulations and 5 transfers of data between advisers to fulfil the basic regulatory requirements.
Our analysis suggests that across the 3000 private sector DB schemes in our study around £300 million per annum is wasted on an outdated delivery model.
Gone are the days of spreadsheets and manual data transfers. Spence’s ‘New World’ revolves around a single system that simplifies and streamlines core services through technology. This approach empowers you with control, delivering operational efficiencies, cost management and risk reduction.
Our automated system handles 100% of benefit calculations, generating individual member cashflows, actuarial valuations, and accounting values daily
As members retire or claim benefits, data and cashflows update in real-time, providing current positions.
Trustees, the Company, and advisers all have access to the system, ensuring updated funding positions and transparent accounting without additional costs or manual data manipulation.
