Barnett Waddingham celebrates pole position result from Professional Pensions Administration Survey 2020
We are delighted to be ranked as the most highly rated third party administrator in the Professional Pensions Administration Survey of 2020.
As well as coming top, the study rated us highest in the four most important criteria to respondents - data accuracy, reliable, good customer service and technical support.
It’s our independence and approach to free thinking that enables our pension administration teams to provide flexibility and scalability to our clients. Because we are independent, we can go the extra mile to create exceptional tailored solutions for our clients.
"We are particularly proud as the survey coincided with Covid-19 lockdown disruptions to many firms, demonstrating a real indication of how our clients truly value our services. Providing a quality administration service at all times is at the heart of everything we do. We have a fantastic, dedicated team of professional administrators who go above and beyond to ensure members and trustees receive a first class service."
What our clients said:
- "BW are doing a great job. Over the last couple of months the pension statements have arrived on time. Money has been paid into the bank. The administration of the payment of benefits has been running like clockwork. It can't be easy trying to co-ordinate everything in these circumstances." – A Trustee of the Scheme who is also a pensioner, CIPD
- "I have been very impressed by BW’s planning and actions during the current challenges. It is testament to the people, systems/infrastructure and procedures that BW has built up to make its business robust. There is no doubt in my mind that the decision by the trustees (supported by the employer) to move our administration and actuarial services to BW in 2016 to combine as a “wrapper service” with the existing investment consultancy was very wise. The work done since then to include updating and verification of member data, scanning key documents into BW’s secure file sharing facility and (importantly) the ability of the trustees to work with BW and other providers remotely and securely has provided a solid platform for the pension scheme to continue to meet its obligations during this most testing of times. We cannot be complacent, but I would like to express thanks to BW from the trustees for the excellent work that you are doing. Really well done!" – Trustee Client
How we reached pole position
The Professional Pensions Administration Survey measures the different experiences of schemes across the public and private sectors, and a range of different scheme types. The survey was open to any respondents involved in managing or outsourcing pension scheme administration, including trustees, pension managers and in-house administrators.
The data was gathered from 383 respondents between March and May this year. 80% of respondents related to defined benefit schemes and 37% had assets higher than £500m. 88% of participants outsource their administrations, providing a ranking of the best third-party administrators.
The questions focused on why clients outsource, criteria used for selecting their administrators, costs, systems capability, client management and performance measurement.
Third party administrators were assessed against the following criteria. Many which we offer:
- data accuracy
- reliability
- value for money
- technical support
- technology
- flexibility
Administration services
Providing a comprehensive expert service to over 400 clients, including pension schemes with over 40,000 members. All our administrative services are provided by a single administration team dedicated to each client who take responsibility for all aspects of the administration of the pension scheme.
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