More than two-thirds of pension professionals have suggested that pension administrators are either fully or partially involved in the scheme strategy in a poll conducted by the Society of Pension Professionals (SPP). 

When asked what role administrators typically play in scheme strategy, the SPP found that a "clear majority" (58 per cent) said that the administrator is “partially involved” in scheme strategy.

In addition to this, 10 per cent of respondents indicated that the administrator is “fully involved”, whilst less than a third (32 per cent) said that the administrator is “not involved”.

Commenting on the findings, SPP member and Hymans Robertson financial risk management lead, Gillian Baker, said: “It’s great to see vitally strong support for the role of administration, with more than two-thirds of pension professionals indicating the administrator is either fully or partially involved in the scheme strategy."
 
However, Baker clarified that there remains a job to do to increase this number further, given almost a third appear to have no involvement at all.

"This means schemes are missing out on valuable expertise and input, as well as potentially facing higher costs and delays further down the line because administrative issues may not have been fully considered," she stated.

The poll, taken during a recent SPP event on how administrators can best navigate the raft of new requirements, also asked pension professionals whether the guided retirement provisions in the Pension Schemes Bill should also apply to Additional Voluntary Contributions (AVCs) in defined benefit schemes.
 
This revealed a divided response, as whilst 54 per cent said yes, a close 46 per cent suggested that they should not.

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