Review of Third Party Pensions Administration

If your pension administration is undertaken by a Third Party Administrator (TPA) or if you are considering outsourcing pension administration, ITM can provide you with totally independent and impartial advice on the TPA market. Our services range from undertaking a simple cost benchmarking exercise, a more detailed initial Expression of Interest project, through to a managing a full tender process, encompassing advice on the TPA long list, Invitation to Tender (ITT), evaluation, short list, site visit and final decision making by the trustees. All of these services can be tailored to your needs and can be undertaken on an anonymous basis if required.

Our advice and our review is 'technology led' and combines this key ITM skill set with our practical administration expertise. We strongly believe in placing a high value on the role of data and transition management in any TPA transfer or outsource. We offer a unique and innovative approach by being able to offer the option of undertaking an automated data analysis via our DAaRT software and using the results to help the trustees and any potential providers fully understand the data issues and how these will impact on the future administration. The results of the data analysis form part of any tendering exercise. In the event that the service is transferred, we can also use our transition management skills to ensure a thorough and risk managed handover of service provider.

The benefits of ITM’s approach

  • ITM is a totally independent organisation, does not provide TPA services and can therefore provide a balanced and impartial view of all TPA providers.
  • ITM consultants have substantial experience in the TPA market, gained working for many of the leading TPA providers. Practical advice from consultants who have first hand insight and knowledge of the ways TPA providers work ensures a realistic approach.
  • ITM provides a unique approach by incorporating data analysis and transition management into the range of TPA review services available.
  • ITM can provide an initial 'Health Check' risk assessment of your current administration service to help you decide if a review will be beneficial.
  • Our fees are competitive and can be tailored exactly to your budget.