Lothian Pension Fund has appointed Hymans Robertson, the UK’s leading independent pensions and benefits consultancy, as the provider of pensionsWEB, a modular online product for scheme members and employers. This decision followed a rigorous tender process for an online product aimed at improving data quality and reducing administrative burden.
Nigel Hopwood, Partner and Head of eBusiness at Hymans Robertson comments:
“Local Government Pension Schemes are facing downward pressure on administration costs and the introduction of a new scheme structure in 2014 (in England & Wales). This will undoubtedly result in more work for scheme administrators, who will have to find ways of improving both productivity and efficiency.
“pensionsWEB has been designed to assist in this process. We want to help schemes tackle complicated and lengthy pensions administration processes and we believe pensionsWEB serves as a reliable one stop shop for all employers’ pensions needs. To accomplish this, it has been developed following extensive feedback from LGPS experts and we are confident that it will assist schemes such as Lothian Pension Fund to maximise use of resources and increase efficiency.
Clare Scott, Investment & Pensions Service Manager at Lothian says:
“We aim to work together to put the customer first. This means making our services simple, right first time, effective and efficient. Hymans Robertson understands the challenges facing LGPS funds and pensionsWEB will help us to significantly improve our data quality and therefore our service to members, whilst optimising our productivity at the same time.”
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