“Gillian and Curtis provide an excellent service to the trustees. They are approachable and possess a huge amount of knowledge. Everything appears to work smoothly which I am sure is due to the immense amount of work they do in the background to ensure all paperwork is available and up to date.”
“They deliver above expectation when the scheme has a particular challenge.”
“Always willing to get involved and move things forward.”
“Clare Owen has been a really excellent scheme secretary”
“In any major corporate transaction, time is of the essence. PSGS's pragmatic commercial approach helped us manage the pensions aspects of our group re-structure to ensure a positive outcome for all parties. ”
“Extremely personable and professional.”
I think it’s fair to say, for most pension trustee boards, their pension scheme’s web presence falls to the bottom of the list (if it makes it on there at all).
Yes, for a defined contribution (DC) pension scheme, online access and functionality for members will have been a consideration if you’ve reviewed or changed your scheme administrator in recent years. That’s only part of the picture – and it is an even smaller part for defined benefit (DB) schemes.
Times are changing – and, for pension trustees, it’s time to think differently about the web. I’ll share the journey the RM Pension Scheme trustee went on last year to help explain why.
Why did the RM Trustee feel a site would be beneficial?
The RM Trustee looks after two pension schemes with the same parent employer. One had been part of a corporate acquisition so, historically, there’d been a different pension administrator for each scheme. Both had a member portal but only one had any form of scheme information pages, which were in the administrator’s branding.
We moved to one administrator for both pension schemes who could provide a scheme their member portal, as well as a front end website to provide generic scheme information, but this front end website was not included in the administration fee. The RM Trustee felt this was an ideal opportunity to improve the web experience for all members and better prepare themselves for the transition to digital communications as standard.
What considerations did they make about who created and/or hosted the site?
Having had a standard administrator-branded website in the past, the trustees felt it was vital the new site should be branded for them, with a look and feel specific to these pension schemes. Members needed to know they were in the ‘right’ place so using branding familiar to them was vital.
With no specific budget available, external agencies weren’t a realistic option. That left two alternatives – having the site created and hosted by the administrator or by PSGS (the schemes’ professional trustee and scheme secretary).
Two things made the decision easy:
With lower initial and ongoing hosting and maintenance fees, a site built in the RM Trustee’s name on a widely-used platform, designed specifically for them and with the pension trustees and scheme secretary able to update the site themselves easily and efficiently, PSGS’ solution was chosen. The trustees also expected the output to be better and a more user-friendly experience to be achieved!
How do the trustees see it being used in future?
The site already provides members with easy access to key scheme documents including those that must be made publicly available by the pension trustees (Chair’s statement, implementation statement etc). It also has member newsletters, useful forms and handy guidance to explain what’s on a pensioner’s payslip – and directly links through to the administrator’s member portal.
The RM Trustee knows e-comms is the approach for the future. The new scheme website is the first step in the ‘going digital’ journey and will, in time, become the place for all pension scheme communications (with suitable email notifications to meet electronic communication requirements). It is also the ideal platform for hosting more interactive and engaging digital newsletters, videos and guidance for members.
Punter Southall Governance Services (PSGS) & 20-20 Trustees (20-20) have today announced they...
You may have seen or heard about the article in the Financial Times about how Insight...