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Pensions administration is moving from the background of our industry to take its place at the forefront of pensions delivery.

A range of factors – including consolidation, demography, the cost of living, interest rates and even the ubiquity of the smartphone – are combining to put pensions administrators at the heart of improving the services our industry offers scheme savers.

And administrators must now rise to the challenges presented by what we at Aptia call the Administration Age.  

TPR recognises administrators' central role

The Pensions Regulator (TPR) underlined administrators' importance in September when it announced a step-up in engagement with administrators to drive better outcomes for pension savers.

TPR acknowledged administrators' vital role in safeguarding pensions. It also noted the challenges administrators face, including increased demand from savers, legislative change, new requirements such as pensions dashboards – as well as the need to modernise systems to meet today’s savers' expectations. 

Through our engagements with TPR and other organisations it's clear that the profile of pension scheme administration is being raised. The job administrators do in creating good experiences and outcomes for scheme members is at the heart of why pension schemes were established in the first place. In turn, TPR, trustees, and insurers all have high expectations of administrators.  

Secular trends are transforming administration