Isle of Man streamlines pensions administration

Mon 25 Mar 2013

Introduction of a new unified pension scheme to improve customer service.

Following a review of public sector pension provision on the Isle of Man by the Council of Ministers in 2010, the Government approved the proposal to select and implement a new Defined Benefit scheme for 13,000 public sector members, covering workers in the Civil Service, Health Service and Fire Service.

The Isle of Man Government Unified Scheme, or ‘GUS’, would replace 15 existing public sector schemes with a target date for introduction of April 2012.

The Equiniti Claybrook solution

The Isle of Man Government selected Compendia, the UK’s leading pension’s platform, for its ability to significantly improve automation, efficiencies and costs of pension administration. The fully integrated, proven functionality was a major factor in the decision of the Isle of Man Government team to select Equiniti Claybrook’s software to run its four major public sector pension schemes, including GUS.