Internet self administrated pensions

Aquliaheywood’s (Aquila) Chris Connelly a senior consultant, asked in their Summer publication of Flying high "Is the growth of pensions on the Internet too slow?"

Mr Connelly went on to say "We're already seeing a reduction in workload as we are able to refer members to our website for documentation and benefit projects"

The potential cost savings available through an Internet self service solution is significant.

It is true a number of Aquliaheywood’s customers are using web based solutions. One company is BP, who have won several industry recognised awards fro their website.

BP started with Aqulia's web enabler framework but then switched to a solution by our CMG team. It was this CMG solution that helped them to open up and win awards with a new self service pension website (PensionLine), including:

• Internal webstats;
• Reporting tools with scheduled reports;
• Workflow;
• Communication tools;
• Security;
• Adherence to Sarbanes Oxley.

This gave the BP team a huge advantage with a system that was easy to maintain by non-technical users, quick to create plugins for.

We asked Dominic Carlyle what the main change in the system was to build such a versatile system, his response was, "Fundamentally we replaced the architecture used by Aquila, with more recent framework we used for other clients such as Accenture and Sony. This allowed the new system to perform quicker than before, even requiring us to run multiple calculations at the same time."

If you would like to find out more about this or any of the other technologies we have developed for the pensions industry then, please contact us.

Tuan Nguyen, specialist for CMG’s Vadafone financial systems