How can we make member communications clearer and more accessible?

Communicating with members in ways they can easily understand is a key part of good administration, especially where complexity can cause confusion or disengagement. You might find practical help in our guide to accessible drafting for member communications, which offers plain-language tips and best practice examples.

What will the impact of dashboards be?

With an estimated launch date for the MoneyHelper dashboard being 2027, the honest answer is nobody really knows for sure! However, it’s very likely that member queries will increase, including those from members who want a firm retirement or transfer quote. Members who have been told they have a ‘possible match’ will also get in touch with administrators, providing new or amended information that will need processing. Trustees should make sure their administrator is prepared for this increase – however big or small it might turn out to be.

How can trustees prepare for a cyber incident?

As the industry recognises it’s a case of ‘when not if’ a cyber incident targets their scheme, trustees need to have practised their incident response so they are able to respond more quickly. Training, assessing risk and making sure controls are in place are key actions for trustees to take. Find out more about how trustees can prepare here.

How are pensions administrators using AI?

Advances in AI will bring about a fundamental change to how administration services are delivered, improving member communications and internal processing. Administrators are already using it to automate key workflows and tasks like logging post and assigning work. Those administrators who are on the front foot with AI will also be those most aware of the potential risks this new technology presents, and should make sure that these are appropriately managed.

How can pensions administrators manage recruitment challenges?

Recruiting and retaining administrators is a known challenge, particularly in DB administration which is often viewed by potential candidates as a declining industry. Third party administrators need to highlight the wide range of skills required to be an administrator – from calculation skills and soft skills that help support members, to specialist knowledge on areas such as derisking – all transferrable skills that can persuade new joiners to commit to a career in administration and beyond.

The questions trustees are asking about pensions administration

At the conference, we asked trustees and scheme managers a simple question:

What’s on your mind about your pensions administration?

The conversations were honest, practical and very familiar. Questions about dashboards. About cyber resilience. About how AI is being adopted by administrators. About how recruitment challenges can be managed.

This page brings those questions together with short, practical responses from LCP’s administration specialists, along with further insights you may find helpful.

If any of these feel close to home, we’d be pleased to talk them through with you.

Q&A

: Communicating with members in ways they can easily understand is a key part of good administration, especially where complexity can cause confusion or disengagement.

You might find practical help in our guide to accessible drafting for member communications, which offers plain-language tips and best practice examples.

: With an estimated launch date for the MoneyHelper dashboard being 2027, the honest answer is nobody really knows for sure! However, it’s very likely that member queries will increase, including those from members who want a firm retirement or transfer quote. Members who have been told they have a ‘possible match’ will also get in touch with administrators, providing new or amended information that will need processing. Trustees should make sure their administrator is prepared for this increase – however big or small it might turn out to be.

: As the industry recognises it’s a case of ‘when not if’ a cyber incident targets their scheme, trustees need to have practised their incident response so they are able to respond more quickly. Training, assessing risk and making sure controls are in place are key actions for trustees to take. Find out more about how trustees can prepare here.

: Advances in AI will bring about a fundamental change to how administration services are delivered, improving member communications and internal processing. Administrators are already using it to automate key workflows and tasks like logging post and assigning work. Those administrators who are on the front foot with AI will also be those most aware of the potential risks this new technology presents, and should make sure that these are appropriately managed.

: Recruiting and retaining administrators is a known challenge, particularly in DB administration which is often viewed by potential candidates as a declining industry. Third party administrators need to highlight the wide range of skills required to be an administrator – from calculation skills and soft skills that help support members, to specialist knowledge on areas such as derisking – all transferrable skills that can persuade new joiners to commit to a career in administration and beyond.