Administration Expert on a Trustee Committee

We were invited to join the Administration Committee of a large pension scheme as an independent administration expert during a very busy period covering several projects and strategic decisions. We joined as a full member in the same way that you often find investment experts appointed to investment committee. We stepped down when the extremal input was no longer necessary.

Our client was having an especially busy period with their administration and were confronting a lot of strategic and implementation issues. They recognised the need for someone independent, with an outside and fresh perspective, that could challenge their administrator, in house executive team and consultants, but just as importantly could support the Committee in discussing the decisions and challenges they were facing.

Adding value

Our membership of the Committee covered a tough period: a market review, de-risking and data issues were just some of the projects going on at the time. We brought our market perspectives and client experience to the table to challenge the thinking and decision making process. We helped the client hold the administrator to account and asked challenging, probing questions.

Comfort and reassurance

Our appointment provided reassurance and comfort to the Committee, Trustee and pensions team. It provided that extra level of oversight, challenge and brought a pragmatic and fresh perspective some of the tricky issues that they were facing. It pushed their advisers and providers to be more transparent and helped to foster a collaborative approach to the delivery of administration and complex, strategic projects.

Key learnings

• Independent expertise can help to challenge thinking and ensure that you are asking the right questions of your administrator.
• Market insights can bring new perspectives and ideas to the table that may not otherwise have been discussed.
• An independent administration expert can help speed up decision making, foresee risks and also provide input and market insights on matters where the Company and Trustee may have differing views.