PENSIONS AGE NORTHERN CONFERENCE PENSIONS ADMINISTRATION Straightforward for Trustees. Simple for members. Mark Adamson 7 June 2017
THE PENSIONS ADMINISTRATION MARKET WHAT DOES THE FUTURE HOLD? Where is the market going? Further consolidation of providers Digital solutions What will you need to focus on? Data quality Member engagement and education Understanding what your members want Providing service channels members want Flexibility of service to cater for change Pensions Dashboard Data security/cyber risk Age benefits are taken Members taking transfers Straightforward for Trustees. Simple for members. 2
HOW CAN WE DELIVER IN THAT ENVIRONMENT? THE THREE PILLARS OF SERVICE 3
WHAT SHOULD WE BE DOING FOR MEMBERS? AND HOW QUICKLY SHOULD WE BE DOING IT? What should we be providing? Channel options o Phone o Email o Web o Letter o Face-to-face o Social Media Education Clarity Guidance How quickly should we be doing it? When we say we re going to do it! At the touch of a button (their button) if we can! 4
FINDING A SOLUTION FOR THE LONG-TERM FUTURE-PROOFING ADMINISTRATION The way of those that succeed Long-term commitment to the market Constant investment in Technology, Process and People A clear Administration Roadmap that actually delivers Straightforward for Trustees. Simple for members. PMI ADMINISTRATION SUMMIT, MARCH 2017 5
INFORMATION OVERLOAD! LET S HELP MEMBERS TO RETIRE! Supporting members through a very important journey. In language they can understand. Pension Decision Service Should I retire? What should I be thinking about? How do I do it? RETIREMENT PACK RRM CALL OPTIONS DISCUSSION GUIDANCE PROCESSING ASSISTANCE Do I need help? What should I do? I made the right decision 6
INFORMATION OVERLOAD! LET S HELP MEMBERS TO RETIRE! Supporting members through a very important journey. In language they can understand. 7
WHEN IT ALL COMES TOGETHER MEETING EVERYONE S NEEDS Effective hybrid pensions administration An open scheme 3,000+members Poor service from the ceding provider Moving after three years of a five-year contract Accessibility requirements are paramount Output documentation to RNIB standards Web access to WCAG2.0AA standards System recognition of blind and partially-sighted Transition is crucial To meet Accessibility requirements To deliver automation To deliver reliable and consistent service Achieved by Understanding the requirements Putting ourselves in their shoes Planning and executing Working in true PARTNERSHIP 8
CONTACT DETAILS Mark Adamson Director mark_adamson@jltgroup.com +44 (0) 7956 021837 JLT Employee Benefits The St Botolph Building 138 Houndsditch London, EC3A 7AW www.jltemployeebenefits.com JLT Employee Benefits. A trading name of JLT Benefit Solutions Limited. Authorised and regulated by the Financial Conduct Authority. A member of the Jardine Lloyd Thompson Group. Registered Office: The St Botolph Building, 138 Houndsditch, London EC3A 7AW. Registered in England No. 02240496. VAT No. 244 2321 96. Whilst all reasonable care has been taken in the preparation of this presentation no liability is accepted under any circumstances by Jardine Lloyd Thompson for any loss or damage occurring as a result of reliance on any statement, opinion, or any error or omission contained herein. Any statement or opinion unless otherwise stated should not be construed as independent research and reflects our understanding of current or proposed legislation and regulation which may change without notice. The content of this document should not be regarded as specific advice in relation to the matters addressed. 9