Your pension scheme during Covid-19
Barnett Waddingham is continuing to provide you with key critical services
The current worldwide coronavirus pandemic is creating a great deal of uncertainty and concern for all of us. Barnett Waddingham will continue to monitor official Government guidance to protect our staff and ensure we can continue to provide pension administration services to our clients and you the members. Our number one priority is to make sure we can help pension scheme members and deliver key critical services such as making sure pensioners get paid on time.
Our staff can all work remotely at home if they are unable to come into the office and indeed in line with latest Government advice most of our staff are currently doing this. All our staff have laptops, headsets and chargers and so are able to answer member queries and check in with work colleagues as if they were in the office. All our team members will therefore remain contactable by phone or email in the usual way.
So for Barnett Waddingham it continues to be ‘business as usual’ as far as possible but we will keep monitoring the situation closely. Should things change we have back up plans in place but rest assured we will be on hand to help. Please do check our Covid-19 updates for further details.
If you are registered for online services then please do log into your BWebstream account to check on your own information. This will also help to free up our teams so they can deal with critical and urgent tasks.
Thank you for your co-operation. If you have any specific questions please get in touch via your usual Barnett Waddingham contact.
We have seen an increase of
in retirements processed during the first months of lockdown
And an increase of
in transfer payments made during this same period.
Due to current circumstances, our team are also supporting an increased number of families with the loss of their loved ones but continuing to do so throughout the change in working circumstances. We have seen an approximately 30% increase in cases related to member deaths between February and August 2020.
We have seen an increase of
in general member queries.
As lockdown has persisted, a number of our members are reviewing their benefits and options or have been concerned about their finances. We are continuing to support all members through this situation.
With the rise in queries, we have received twice as many instances of positive feedback received from members during lockdown compared to the previous three months. Member’s particularly highlighted the ease of contacting our administration team and how helpful the team were during stressful times.
As of 1 August 2020, we have completed and launched
schemes since the start of lockdown, meeting all our pre-existing agreed deadlines with clients.
As of 1 August, we have progressed or completed
large-scale projects to support our clients and their priorities since 23 March.
Our large-scale projects include GMP reconciliation and rectification exercises, benefit rectification exercises and bulk annuity transactions.
Meanwhile, the number of members with access to our online portal has doubled since 23 March as more schemes move towards online access and we allow members to provide documentation in a secure, digital way.