First time outsourcing
The challenge of pensions scheme consolidation: a flexible solution for live services
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Background
Our client had been administered in-house since inception. With a long history of excellent member service the trustees did not want to outsource services but were forced to find an alternative due to the in-house administration manager retiring after 40 years of service. The trustees’ challenge was to:
- appoint a new administrator that could retain the quality and member focus the in-house team provided
- thoroughly transfer undocumented knowledge from the outgoing team and
- provide support, guidance and assistance through the transition process for a team that was totally unfamiliar with the requirements and had constrained resources.
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Approach
We developed a migration plan that focussed on face-to-face knowledge transfer. Our team of business analysts worked within the in-house administration team to gather scheme knowledge and build benefit and knowledge guides. The result was that we were able to quickly and thoroughly transfer and build knowledge with minimal impact to the existing team.
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Results
We successfully transitioned and consolidated services from the Scheme’s two different administrators – an in-house team and a third-party provider.
The project was delivered in agreed timelines with high-quality standards of member care and support being preserved.
When we first set out to find a new administrator our main priority was selecting a provider who, like our in-house team, was focused on delivering exceptional service standards and member care. After undertaking a full market review and thorough selection process, it was clear that Trafalgar House shared our values in that regard, as well as possessing innovative systems that will help us to continue to enhance the service. We are confident that we made the right choice.
Chairman of the Imerys UK Pension Scheme