Download the fifth edition of our Trust & Confidence research, which gathers views on the pensions industry from more than 2,000 GB adults.
Let’s be honest – pensions technology has always been a bit… beige. Bloated legacy platforms, endless upgrade cycles, and a tendency to stick with what (sort of) works. But the tide is finally turning, and what’s coming isn’t just an update – it’s a total architectural rethink.
As member options have expanded, trustees have sought to provide greater support and guidance, but this has also added complexity to administration processes. These increasingly intricate flows now involve a multitude of agents and handoffs. While the intentions behind these developments are commendable, they often lead to unintended challenges for members.
Read Katie’s latest blog on what schemes should be doing right now to ensure a smooth process for connecting to pensions dashboards when the time comes.
Read the latest blog from our Technical & Communications Manager, Karla’s Bradstock, on the changes that are needed to the proposed Inheritance Tax (IHT) reporting regime to prevent it from becoming the latest pensions administration headache.
Pensions administration is one of the most complex areas of the pensions industry. Every day, thousands of transactions, calculations, and decisions rely on precise data and a deep understanding of constantly evolving rules – covering underpins, GMPs, scheme-specific variances, and actuarial factors. With such an intricate and complex task, however, it is inevitable that errors can arise. When they do, the approach to handling them can make all the difference in minimising impact and maintaining member trust.
When we asked people to rate how much they trust the pensions industry – on a scale from 0 (no trust at all) to 10 (highly trustworthy) – responses were strikingly varied. People shared an array of reasons for their scores, revealing a complex landscape of perceptions around an industry designed to safeguard their retirement.
