LONDON (16 November 2016) – Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE:AON), has outlined the key challenges facing pension scheme administration in 2017, in a new publication ‘Today’s 10 biggest pensions administration challenges — and ways to tackle them’.
Stephen Ruse, UK Outsourcing Commercial Director at Aon Hewitt said:
“There seems to be little let-up in the challenges confronting pension scheme administrators. In this publication we have tried to summarise what we believe to be the key issues they will be facing in the coming year – and, as ever, they are a mix of regulatory, financial and managerial challenges.
“While all schemes will have their own priorities, the issues we have identified demand careful thought and planning, so we hope this summary will help administrators focus their efforts and resources as we move towards 2017.”
Aon Hewitt sees the top ten pension challenges as:
• Carrying out GMP reconciliation
• Responding to Freedom and Choice
• Meeting Standards of Recommended Practice (SORP) for pension scheme accounting
• Ensuring administration supports derisking
• Ensuring the quality of scheme data
• Getting communications right
• Keeping to budget
• Ensuring quality of service
• Having the delivery model you need
• Getting the right offering from your provider
‘Today’s 10 biggest pensions administration challenges — and ways to tackle them’ is available at aonhewitt.co.uk/administration or email us at firstname.lastname@example.org
For further information please contact:
Colin Mayes Marina Jane Sanchez
Aon Hewitt CNC
01372 733689 020 3219 8811
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