Improving operational efficiency of a pensions provider

We identified opportunities to make our client more operationally efficient and save significant costs.

The Challenge

Our client was a top-tier UK life and pensions provider, that was seeking substantial operational efficiency improvements for its defined contribution pensions operations.

They asked PEN to review their current operation and make recommendations. 

Our Approach

We undertook an initial review to identify, size and prioritise potential improvements to free up capacity and make significant cost savings.

We have a huge amount of experience in this sector and so were able to bring in lots of subject matter experts to cross reference our client’s ways of working with industry best practice.

Those experts included operational efficiency consultants, direct contribution pensions experts and resourcing leads.

We also introduced our PEN operational efficiency methodology which brought strong project management and helped create an impactful team.

The Outcome

We kept high momentum throughout the project and completed the review in just six weeks, significantly minimising impact on the business.

On the back of the recommendations, our client moved immediately into implementation of the top priority initiatives.

We were asked to assist with implementation, in particular leveraging our expertise in the organisational restructuring initiatives.