We pride ourselves on having a personal relationship with our clients. This helps us to ensure that they are receiving the correct level of service for their requirements. We also offer a collaborative working structure that ensures all team members work closely together leading to greater accountability between services.
Our people and high-level service
It is our view that a pension scheme is judged by the administration service provided to members on a daily basis. Our administration team can work in partnership with you to ensure that the service delivered to your members is an efficient, consistent and high quality one.
We have recruited an experienced administration team that is well established in providing a high level of service to a broad range of UK clients. They all hold or are working towards one or more industry recognised qualification of Qualification in Pensions Administration (QPA), Diploma in Pension Calculations (DPC) or Associate Membership of the Pensions Management Institute (PMI) and are encouraged to seek opportunities for continued professional development.
We believe that communication is the key to our administration service. We work in partnership with Trustees to provide the quality service that members expect. One point of contact for all administration services will ensure ease and consistency of service and will provide the basis of a long and trusted relationship.
Administration take-on and security
The transfer of a pension scheme from one provider to another is, understandably, an anxious time for Trustees. We recognise the importance of a smooth transition, therefore the management of this process is undertaken by the members of our team who have been involved in the transfer and successful implementation of several defined benefit and defined contribution pension schemes over a number of years.
All of our systems are managed in-house and we have dedicated IT support in each of our offices. Deloitte IT systems are fully secured, access-restricted and backed-up daily.
In addition, we use Meridio records management system that produces a more secure and efficient system than a paper-based filing system. Files are easily accessible with no off-site storage required.
Some of our specific offerings
Our actuarial team has extensive experience in:
Nationally, we have the ability to draw on the experience of over 300 actuarial staff including technical specialists within the firm who act in a Scheme Actuary capacity. This enables us to guide Trustees through the actuarial valuation process and assist them in their negotiations with the Employer. While differences can arise in places, we find that all parties are normally working for the interest of the beneficiaries of the pension scheme.
Where we believe there is a need to change or adapt our procedures and processes in light of changes in legislation, we will set up a “task force” to determine the best way of doing this and also to consider the wider implications of the changes in terms of our delivery to clients. The technical task forces also formulate responses to legislative and other consultations covering a broad range of pensions issues. We find that responding to consultations helps us to understand how any changes may impact on our processes, enabling us to react before many of our competitors and indeed before any legislative changes arising from the consultation response become binding.
It is important that Trustees are kept abreast of all the developments surrounding pension legislation and each client will have a key Deloitte consultant who will regularly update the Trustees on current issues within pensions. We also provide ad hoc updates to our clients when there are significant changes to legislation.
It is also important that Trustees keep with the documentation of their pension scheme. To ensure Trustees have ready access to this information, all scheme documentation for our pension clients can be held on Deloitte OnLine (DoL).
Business continually demands more efficient ways of working together with enhanced information security and competitive necessity, so it comes as no surprise that web collaboration is becoming an increasing popular way of working. DoL is a secure and flexible, web-based collaboration tool easily accessible 24 hours a day, 7 days a week through the internet, from anywhere.
Deloitte OnLine not only brings efficiency gains and enhanced information security but it also:
From a security standpoint, DoL meets industry standards for banking and trading sites. It is a tried and tested way of working on many engagements (currently 75% of the UK global strategic clients as well as many other engagements use it) and has its own dedicated global support team for Deloitte people and our clients.