PMI Crest
PMI

Barnett Waddingham

Administration

We offer a full range of services to trustees, providing tailored pragmatic and proactive advice and support in all aspects of pension scheme management, administration, funding and investment strategy.

At Barnett Waddingham, we are proud to be a leading independent UK consultancy at the forefront of risk, pensions, investment and insurance. We’re a team of over 1,330 headcount, 81 of whom are partners, each delivering on our values and our promise, ensuring the highest levels of trust, integrity and quality.

 

Our experienced and professional Pension Administration team provides services to over 400 clients, including schemes comprising over 385,000 members; covering defined contribution (DC), defined benefit (DB), hybrid, Care Average Related Earnings (CARE), open, closed and those transferring to the Pension Protection Fund (PPF).

All our administrative services are provided by a single administration team, dedicated to each client, who take responsibility for all aspects of the administration of the pension scheme. Our team includes over 510 administration specialists who have many years of relevant pension administration experience.

We provide the full range of pension administration services, which include:

  • membership record keeping
  • benefit calculations and payments including electronic
  • payments all regulatory reporting including e-filing
  • full cash and accounting services including drafting the annual report and accounts and pooled banking facilities
  • pensioner payroll
  • data audits and data cleansing exercises, particularly where data originates from multiple sources
  • internet functionality and links to other systems (such as HM Revenue & Customs and Straight-Through Processing)
  • trustee secretarial services including meeting management
  • GMP reconciliation exercises
  • consultancy
  • specialist PPF services
  • pension management services

We recognise that all our clients require a different level of support from us and firmly believe that our independent, ‘free thinking’ approach is sufficiently flexible to allow us to meet their requirements.

We use in-house software – BWebstream – developed specifically for our requirements to ensure clients’ needs are met in the most efficient way.

Our staff turnover is exceptionally low which means that we are able to provide continuity and have developed some excellent long term relationships with our clients.

Testimonies 

"The administration team at Barnett Waddingham do a good job with good client focus and administration reports, which are particularly well received." Pension Scheme Manager

“Everyone I have spoken to on the phone has been very helpful and reassuring for my various questions. Always kind and pleasant.” Scheme Member

“The support provided was excellent, very concise and professional.” Scheme Member

Investor in Customers

Through our hard work and dedication to clients we were accredited a ‘Gold Award’ from the independent Investor in Customers (IIC) assessment process for our consultancy and administration services.

This award recognises Barnett Waddingham as meeting the highest standards when it comes to “understanding customer needs, meeting customer needs, delighting customers and engendering loyalty.”

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Knowledge Hub

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08 October 2021

PMI Scotland Seminar - the new normal?

On 4 August 2021, the PMI Scotland Regional group held a webinar to discuss ‘the new normal’ for the financial services sector in Scotland, in light of the lifting of COVID-19 restrictions. Four panellists lead the discussions.

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Own risk assessments
08 October 2021

Own risk assessments

Under The Pensions Regulator’s (TPR) new Code of Practice, UK occupational pension schemes with 100 or more members will be legally required to produce an own risk assessment or ORA. The new Code - currently in draft, and expected in 2022 - will provide details about how this duty is to be discharged.

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A trustee effectiveness review: a tool to help trustees
16 July 2021

A trustee effectiveness review: a tool to help trustees

We know that not everyone finds the idea of a trustee effectiveness review appealing. Many feel such a review will take up time that could be better spent dealing with scheme issues, and the prospect of a list of improvements for busy trustees is not attractive. However, a periodic review of how trustees are operating collectively will be time well-invested and is an essential requirement for a well-run scheme.

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Not another data article!
16 July 2021

Not another data article!

Technical News July/Aug 2021. 

You don’t have to look too hard at the moment to find a pensions article that touches on, or even focuses on, data. Working with masses of data in our pensions day-to-day life isn’t anything new. But after listening to a podcast I thought I’d use this article to reflect on changes over the years in how we collect and use data.

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Preparing for The Pensions Regulator’s combined code
17 June 2021

Preparing for The Pensions Regulator’s combined code

Trustees await the final version of The Pensions Regulator’s new combined code.

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Protecting member data – cyber risk in 2021
07 May 2021

Protecting member data – cyber risk in 2021

Risks related to cyber security are ever evolving, and The Pensions Regulator (TPR) recommends a dynamic response as fraudsters are constantly looking for new ways to get their hands on data. Trustees shouldn’t be complacent in relation to the data they hold, and should ensure they keep up-to-date in relation to cyber risks, incidents and controls.

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The crucial role of the scheme administrator in relation to GMP equalisation
05 March 2021

The crucial role of the scheme administrator in relation to GMP equalisation

Technical News March 2021. I suspect that at least some readers will be wondering how this topic could be turned into a whole article...

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A possible blind spot?
05 February 2021

A possible blind spot?

Barnett Waddingham’s recent survey of UK private sector pension trustees – ‘Top Pensions Risks - 2020 Vision’ - found that board diversity was ranked as one of the lowest concerns, with almost half of the respondents saying this was a minimal risk. Only 14% rated diversity in the top 3 risks for their scheme.

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Lessons to learn from experience for pension schemes
06 January 2021

Lessons to learn from experience for pension schemes

A recent survey carried out by Barnett Waddingham asked trustees to identify the risks they were most concerned about for their schemes. It also asked trustees to share their experience of the types of risk events that had crystallised for their schemes over the past three years.

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CONTACT OUR TEAM

Our Insight Partners help us provide PMI members with a rich and specialised experience. Contact us to find out more.

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