Outsourcing in the pensions industry

We helped one of the UK's top pension providers find a solution to outsource a key part of their business.

The Challenge

Our client was one of the UK's top pension providers and they were looking to outsource their defined benefit and contribution administration, combining them on to one single platform.

We were invited to be involved in the project and to use our extensive tools and experience to develop the request for proposal questionnaire and scoring system. 

Our Approach

We quickly produced a long list of suppliers that we assessed and scored in detail to create a suitable short list.

The criteria our client had originally drawn up was both extensive and specific. We were able to reduce the short list and select one recommended supplier through detailed analysis, site visits and a deep understanding of the required model.

Together with the client we managed a thorough governance process across multiple stakeholder groups.

The Outcome

The programme was so successful and efficient that our client has since requested that PEN be involved in the implementation and development of their new target operating model.