Capita Pensions has today announced a new partnership with Intellica, a leading provider of data technology solutions following a competitive tender exercise.
The partnership will enhance Capita’s existing best in class Guaranteed Minimum Pension Equalisation (GMPe) offering, providing trustees and scheme sponsors with a comprehensive suite of automated data validation checks that allow for the scheme-specific nature of these projects. It will also ensure that data analysis and cleanse exercises are aligned to trustee and employer objectives and can be delivered cost-effectively.
Data accuracy remains one of the biggest issues facing those managing pension schemes, and exercises such as GMP equalisation, which are reliant on good data, will remain a primary focus for 2021 and beyond. As a result, it is vital that the industry takes a proactive approach to data management to support schemes in meeting their compliance, member engagement and de-risking plans.
Stuart Heatley, Managing Director of Capita Pensions said: “We called data out as the critical issue for pension schemes back in July. I am delighted that this partnership allows Capita’s high-quality consulting and administration experience to join with Intellica’s pensions data technology expertise, for the benefit of our clients. Moving forward, strategic partnerships like this will become an even more critical part of our product strategy, as we deliver market leading solutions to meet our clients' needs.”
Brendan Doherty, CEO of Intellica said: “We are extremely proud and excited to be selected as Capita’s data technology partner for GMPe. As a leading data technology provider, we value partnering with Capita’s exceptional pension consulting and administration business. Our combined expertise will provide clients and their advisors with a powerful technology driven data solution, providing a unique in-depth analysis, enabling informed decisions which will support clients' data strategies now and in the future.”