HS Admin, the specialist third party administration provider, has launched a packaged independent data service available to all pension schemes in the UK. The service is designed to help Trustees and scheme sponsors to secure complete and accurate data, enabling them to reduce risk, reduce cost and increase their pension scheme efficiencies.
Changes to legislation and scheme rules have made pensions data increasingly complicated and AEGON-owned HS Admin is one of the only companies in the UK to be able to provide individual schemes with tailored, highly sophisticated technology and skilled professionals in order to provide Trustees, employers or scheme sponsors with a complete data service.
Mark Adamson, Managing Director of HS Admin, says: “Data is at the heart of every pension scheme as it informs Trustee decisions, delivers member benefits and dictates sponsor liability. High quality data is the key to providing certainty of liabilities to Trustees and sponsors and accurate benefits to staff.”
The suite of services that HS Admin provides includes:
- A data overview report - examination of data and identification of potential data risks.
- Data assessment – plans for resolution of inaccurate data. This includes over 300 validation and analysis rules and use of a sophisticated, flexible data scoring system.
- Data cleanse – the ability to re-cleanse data against a fixed set of rules and using a consistent weighting basis.
- Data consultancy – provision of an independent source of guidance.
Adamson continues: “HS Admin already provides this range of services to all of its administration clients and we have now packaged them for other schemes to use as an overall, complete service, which few, if any, other providers offer. Coupled with our extensive knowledge of pension scheme administration, we believe HS Admin has a compelling offering for Trustees or scheme sponsors.”
Notes to editors
- HS Admin is a specialist third party administration provider supplying pensions administration and related services to the UK pensions industry. It provides administration services to defined benefit, defined contribution and hybrid schemes, as well as group annuities providers.
- In September 2000, HS Admin was acquired by AEGON in the UK, a wholly owned subsidiary of AEGON N.V., one of the largest insurance groups in the world.
- AEGON has assets under administration of £53.2 billion and employs around 4,000 staff. AEGON is part of the AEGON Group, which is one of the world’s largest listed insurers and has assets around Euro 359bn (£250 billion).
Jon Atkins 
