Financial institutions

Systems rationalisation, asset consolidation and auto enrolment

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Auto enrolment, new pension freedoms, Defined Contribution charge capping and RDR have created an unprecedented level of change and opportunity for workplace pension providers and wealth managers. At the same time Defined Benefit plans continue to offload liabilities to insurance companies in new ways, all culminating in the importance of data quality and how it could become pivotal to the level of commercial return.


Proposition overview

  • Operational efficiency through systems rationalisation
  • Data audit and cleansing
  • Dashboard readiness
  • Increasing funds under management – member pension and asset consolidation
  • Auto enrolment and workplace pensions
  • Legacy system and data migrations
  • Solvency 2 data solutions and management
  • Outsourced back office support

Faced with the new regulatory environment and customer liberation, firms may identify an opportunity to implement new operating models through rationalisation of operating systems, presenting new routes to market. These firms will emerge from the process with competitive advantages, placing themselves in a position to attract life long customers and lower operating costs.

ITM has delivered many systems and data rationalisation projects, including the decommissioning of legacy and under-utilised platforms. These solutions are built on proven, swift and repeatable methodologies for mapping vast quantities of member data across to new (target) systems. The successful delivery of these projects may lead to the outsourcing of no longer viable in house support services – with ITM taking that on and delivering the service back cost effectively.

In the de-risking space, ITM’s data audit and cleansing clients include the majority of the providers of bulk annuities alongside the UK’s largest ever longevity SWAP. ITM uniquely enjoys a 360 degree view of transactions often working for trustees, buy in/out insurance providers, employee benefit consultants and longevity re-insurers, adding valuable insight and intelligence to the process.

From ITM’s unique insight gained through the Pensions Dashboard Prototype project, we can help you on all aspects of becoming Dashboard ready. Not being Dashboard ready will reduce your members ability to find their pension details when the Government launches Pensions Dashboards in 2019.

ITM advise workplace pension providers and wealth managers and develop scalable propositions for their individual customers to consolidate old and legacy pensions and policies into their current plan. The industry leading member portal ‘Dashboard’ brings efficiency, ease of use, scale and audit trails to the process, coupled with ITM’s vast experience conducting pension and asset consolidation into WRAP, SIPPs, GPPs and other workplace pension vehicles.

ITM also recognise the myriad of complications surrounding auto enrolment. Employers and advisers must navigate their way through a multitude of obligations including:

  • Ensuring payroll data is ready to submit
  • Assessing eligibility of workforce
  • Rolling out employee communications

ITM’s innovative auto enrolment system, eAsE, manages the entire auto enrolment process through one intuitive process.

eAsE can also be used to undertake an AE data audit at any stage of the cycle, either singularly or as a bulk exercise.

Duncan Howorth | Executive Chairman 07920 294664

Duncan is responsible for developing partnerships and outsource solutions for Financial Institutions.

From the design of the initial approach through to the execution of the go-lives, ITM both led and supported our programme to provide an excellent outcome that met all of the success criteria that we set out to achieve.
Tim Hopkinson / Head of Transformation / Friends Life

Pension funds

System led de-risking; data audit & cleanse; system and data migration; record keeping; GDPR and GMP reconciliation

Financial institutions

Systems led legacy migration & rationalisation; BPO and auto enrolment; pensions dashboard consulting


Back office IT, system and admin support; PenScope and eproducts; data migrations; resources placement

HR Directors

HR Consultancy, Data analysis, cleanse and archiving

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