JLT Benefit Solutions has launched a new administration service to help employers who are running an employee transfer value (ETV) and other pensions exchange exercises.
The service covers every stage of the exchange process, from contacting members and providing them with the information and advice they need to make a decision about exchanging to overseeing the administration required to transfer the member.
Additionally, because managing a pension exchange exercise can be time consuming, this service also enables the pension administration team to remain focused on the day to day running of the scheme.
Mark Adamson, client director at JLT, said: “It makes sense for schemes to consider reducing liabilities and de-risking and an ETV or other pensions exchange exercise is an effective way to do this. The process can be quite complex and take up a lot of the pension administration team’s time but this service removes these problems.”