Mercer spends E36m to boost pension admin
UK – Mercer is boosting its pensions administration business, by spending 25 million pounds (36 million euros) on new technology, training and customer service.
Mercer is one of the largest third-party administrators in the UK, administering some 1,200 company pension schemes. The investment, granted by US-based parent company, Marsh & McLennan Cos., will fund a programme aimed at providing what it termed a new level of service in pensions administration outsourcing.
The programme includes investment into a new core administration system, a document imaging and workflow system, an improved web offering, and training and customer services initiatives.
David Margetts, European partner and head of business development for Mercer administration commented: “The programme forms part of a cycle of re-investment into updating and replacing technology.”
The core administration system will be an enhanced version of the open system which Profund and Mercer are developing together. Open is used by many other third party administrators, which says Margetts, will make transferring client accounts easier. A new imaging system, provided by FileNet will also be installed.
Finally, Mercer will also be giving clients and members interactive access to their pension details.
As well as introducing new technology and training for the products, Mercer will be launching a new programme focused on customer service.
Margetts said that the investment programme should result in an improvement in efficiency and enable Mercer to better meet clients’ needs.