Strengthening Pension Administration: A Collaborative Approach

Bridging pension management gaps

Our client, a leading UK maritime services provider, has long managed its final salary pension scheme in-house. With around 2,500 members, the scheme was overseen by a dedicated team, including two apprentice administrators, a senior administrator, and a Pensions Manager. However, the departure of the senior administrator created a significant knowledge gap, and a challenge for the pensions manager to provide the required support to the relatively inexperienced apprentice administrators.

Recognising the need for additional expertise and support, Dalriada Trustees were asked by the Pensions Manager to step in on a secondment basis. Our role was clear: provide the necessary guidance and stability to ensure the continued smooth operation of the Scheme through a collaborative pension administration approach.

A seamless transition

With a background in third-party administration, I joined Dalriada Trustees Pensions Management Team ready to support the client. Having progressed from junior administrator to administration manager – overseeing a team of ten and navigating the challenges of the COVID-19 pandemic – I understood the importance of structure, communication and responsiveness. My goal was to integrate seamlessly into the team, bringing both experience and reassurance.

Being local to the client also provided a natural connection. It allowed me to quickly embed myself within the organisation, ensuring that the team received practical, hands-on support from someone who understood their challenges.

Building stability and efficiency

From my first discussions with the Pensions Manager, it was evident that consistency and clear communication were key. To bridge the gap left by the senior administrator, we agreed that I would spend two days a week in the office. This approach created a direct link between the team and the Pensions Manager, ensuring that day-to-day operations continued smoothly.

Since joining, I have been actively involved in:

• Supporting the pension increase project and helping the team navigate complex calculations.

• Reviewing and refining existing processes, drawing on my third-party administration experience.

• Introducing new measures to enhance data security and prevent breaches.

• Providing training on regulatory changes, such as the new Lump Sum Allowance.

• Establishing a structured, monthly scheme task list to improve workflow efficiency.

• Assisting with key administrative responsibilities, such as completing the scheme return.

Through these initiatives and our collaborative pension administration approach, we have strengthened internal processes, enhanced the team’s confidence and reinforced the scheme’s governance framework.

A stronger partnership

Beyond the technical aspects, fostering a positive and supportive working environment has been a priority. I maintain daily contact with the team, even when not physically in the office, to ensure they always have access to guidance and support. This consistency has helped to build trust, creating a collaborative atmosphere where challenges are tackled together.

After four months , we have established a strong rhythm, and our relationship continues to grow. The team knows they can rely on us for expertise and support, reinforcing the value of a dedicated pensions management partner.

Real results in action

The success of our collaborative pension administration approach is best illustrated through real-world outcomes. In our recent case study, “Improving Pension Efficiency & Compliance for UK Maritime Provider” we outline how embedding a Dalriada pensions specialist within the client’s team led to stronger governance, enhanced data security, and improved operational efficiency.

Looking ahead

This experience has been incredibly rewarding, providing new insights into the differences between in-house and third-party administration. It has also reinforced the breadth of expertise that Dalriada’s Pensions
Management team brings to clients – whether through secretarial duties, governance support or day-to-day administration.

With a presence across the UK, our team is well-positioned to support schemes of all sizes, ensuring that no client is ever out of reach. I look forward to continuing this work and demonstrating the real, practical benefits of our collaborative pension administration approach.