19 January 2018
visit http://response.ncr.com

Origo extends pensions transfers service into occupational market

28 January 2014  |  634 views  |  0 Source: Origo

Origo, the eCommerce standards and services body for the financial services industry, is extending Options Transfers, its electronic pension and asset transfers service, into the occupational and Master Trust pensions market.

The fast and efficient transfer of pension pots and assets is becoming a growing issue for the pensions industry and it is set to increase as pot-follows-member plans are developed and volumes increase under Auto Enrolment rules. Within this context occupational pension schemes and Master Trusts will need to address the current manual processing against the less risky, more cost efficient, automated processing of transfers.

Paul Pettitt, Managing Director of Origo, says: "Origo understands the pressures facing this market and we have already seen an increase of £2bn, making a total of £14.4bn in all, safely and successfully processed by Options Transfers from Nov 2012-Nov 2013. It's clear Auto Enrolment is introducing new challenges for trustees and administrators and it is our intent to relieve some of this pressure. By extending our transfers solution to third-party administrators, trustees, pension scheme providers and Master Trusts who are not yet on the service it will help to improve transfer times and the service to members."

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.vasco.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
11242 views comments | 32 tweets | 38 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
10340 views comments | 17 tweets | 18 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9946 views comments | 14 tweets | 16 linkedin
KFC introduces Bitcoin BucketKFC introduces Bitcoin Bucket
9404 views comments | 18 tweets | 16 linkedin
FinTech Scotland appoints new CEOFinTech Scotland appoints new CEO
8495 views comments | 8 tweets | 6 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job