Enhancing our bulk transfer operations.

11/05/2011

To deal with bulk transfers smoothly and efficiently we’ve recently launched our new and enhanced Bulk Transfer Operating Model. This will significantly enhance how we set up and load asset transfers from external DB or DC schemes to our DC product range.

The enhanced transfer model allows:

• Asset transfers to all of our current group pension plans;
• The capacity to upload between 750 and 1,250 transfers in one go;
• The ability to set up new member plans or add transfers to existing plans;
• Fully automated validation of member and scheme data;
• Automatic messages issued to members on completion;
• The ability to transfer member data from extracts directly onto our own administration platform; and
• The production, in bulk, of transfer analysis reports.

The benefits of this model to you include:

• Significant reductions in error rates, through a virtually touch-free process;
• Reduction in end-to-end turnaround times for asset transfer projects; and
• Improved information and reporting throughout a bulk transfer exercise.

We’ve also been further improving our asset transfer capabilities to better enable us to mitigate out-of-market risk and reduce transaction costs, giving piece of mind on fund movements.

This has helped us process over 7,000 transfers with a total value of £135.7m in the first quarter of 2011 alone, an increase of over 200% on the corresponding period in 2010.

To find out more about our enhanced transfers proposition, please contact your Scheme Manager or Neil Kempshall, Head of Corporate Sales, at neil.kempshall@landg.com.