Nearly two thirds of BTPS members retiring fully online
Brightwell has seen strong adoption of its full self-serve online retirement journey, launched earlier this year for BTPS members. Nearly two thirds (63%) of all retirements completed between February 2024 and the end of September 2024 were undertaken by members online.
As a result of this strong adoption, average administrator time spent dealing with the Scheme’s retirement cases has reduced by 39%.
Launched in February 2024, in what’s believed to be an industry first, the online retirements service gives members the ability to complete the entire retirement process online, and puts their pension and lump sum into payment without any administrator involvement or manual intervention.
Developed in partnership with pensions software provider Procentia and Onfido, a leading global identity verification provider, rather than sending identity documents in the post, members simply take a photo of their government-issued identity document (ID) and a selfie.
Feedback from members who’ve used this service has been overwhelmingly positive with an ease-of-use net score of 94.9%.
Andy Whitelaw, Head of Member Services, Brightwell said: “Members have wholeheartedly embraced online retirements choosing this option for the ease, speed and security it offers.
“We are always available for members who want to speak to us on the phone but, by improving our online services, we are freeing up valuable administrator time which is being used to handle more complex cases, supporting vulnerable members and other initiatives to improve our service even further.”
Commenting on the service, one BTPS member said: “That was the best service ever, from deciding to take my pension to receiving the money, it was so fast and efficient with great communication. Whoever is behind this should be extremely proud, it was a fantastic service.”
Published:
23 / 10 / 2024
