Sometimes you pick up a gem from social media that makes you want to shout “yes!” . Thanks to all on this thread that says what needs to be said. “Administration” is an inadequate word for the delivery of pensions to the millions of people who depend on them to release them from work!
To suppose that we can move forward to provide pensions from DB , CDC and DC schemes, means we must take the infrastructure that Ross talks of – seriously.
It is every bit (though not as well paid) as investment management. The KGC white papers which sit on this blog are recognition that PASA is a trade body as important (though not as well funded ) as Pensions UK, certainly in delivering the new pensions that will arise from the Pension Schemes Act and the CDC conduct code (both delivered shortly).
Thanks to Ross Wilson and Kim Gubler for bringing this post to my attention. We are of course in a world that is changing very fast as technology takes a grip and what seemed impossible to achieve in years can be done almost overnight.
AI is empowering what we once called administration to deliver what we need in a humbling short time and it is those with a firm understanding of what needs to be delivered to people as pensions who we need to listen to.
The AI headlines will bring headaches to organisations who put up shutters against the wind of change. It could hurt advisers , software suppliers and those who manage administration. But administrators that embrace technology with a sigh of relief will win.
