The background
A global client had a conflict with their existing administrator which resulted in the termination of all services with two weeks’ notice. The Trustees invited LCP to present on how we would manage a transition within a very short time frame ensuring no impact to the service or members.
Our solution
We presented a member-centric solution, adopting a risk managed approach to transition which focussed on critical deliverables involving key stakeholders.
We identified the key dates and critical delivery areas required over the short transition period.
Our flexible bespoke approach enabled us to adapt to the client needs. We worked with the existing administrator to complete the required due diligence activity. This included analysis of the scheme data for any potential issues and comprehensive knowledge capture of the scheme’s benefit structure and administration practices.
The results
We achieved the desired go-live date and, within the first month, also completed a pension increase exercise whilst maintaining the expected level of client/member service. The Trustees were delighted with the outcome and members experienced a seamless change of administrator.
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