One of the Scheme Advisory Board’s key objectives is to ensure the cost-effectiveness and efficiency of the FPS, and to provide advice to scheme managers and local pension boards in relation to effective and efficient administration and management. As there is currently no basis for the comparison of service and cost within the administration of the schemes, in order to establish a benchmark, the Board undertook a procurement exercise for an organisation to undertake a benchmarking review.
We were delighted to launch the project at the AGM in September and announce that Aon were the successful bidder.
Representatives from Aon attended the meeting of the technical community on day 1 of the conference to engage with FRA and administrator stakeholders on the scope and range of the survey questions, which will be used to gather quantitative data from employers, administrators and members. Thanks to all those who participated in this meeting; the notes are available here.
Day 2 saw the official launch of the exercise where Aon expressed their delight in being involved in the project as well as outlining the approach they will be taking to carry out the review. The audience of around 100 delegates then had the opportunity to ask questions of the Aon team.
Since then, the Bluelight team has been working closely with Aon to finalise the survey questions for employers, administrators, and members. Following an extended period of consultation with stakeholders including the Administration and Benchmarking committee, the Fire Finance Network and the Technical Community, we are pleased to advise that the administrator and employer Excel surveys are available for completion from 23 November 2018. While this is slightly beyond our initial timescales, we considered that it was important to allow a longer period for full consultation. All three SAB committees have also had opportunity to comment.
Administrator survey (xlsx, 83kb)
Employer survey (xlsx, 81kb)
You can read an update from Aon on the progress of the project to date here.