Traditionally, the pensions industry has lagged behind the rest of the financial services sector in terms of offering high-quality services with leading-edge technology.
In partnership with Procentia, Brightwell has supported BTPS in transforming administration and, in turn, member satisfaction.
On in-sourcing pensions administration in 2018, BTPS’s CEM global pension benchmarking service quality score was 48 out of 100 – which was the bottom of the peer group – and this was reflected in the feedback BTPS was receiving from members.
By 2023, the CEM score had leapt to 87 – top of the peer group. This transformation has been achieved with bold decisions and considerable investment in people, processes and technology – which we are now making available to other schemes.
In addition, BTPS’ own member satisfaction score, based on an annual survey with members, has increased from 63% in 2018 to 87% in 2023.
Pensions can be complicated. Supporting scheme members to make sure they fully understand their benefits and options with high-quality member communications and personalised online tools helps them make informed decisions.Take me there – “Member Experience”