FB FOR PENSIONS
Fiduciaries providing offshore pension products are a huge growth area and our home island of Guernsey is a leading location for the operators of these products. Flyingboat is helping a number of pension providers administer their products.
Administration of pension schemes is similar to employment schemes that are also administered in Flyingboat. The key aspects are the core entity database for recording details on the beneficiary and their details. Depending on the nature of the pension scheme, the participants may be book kept as part of the scheme or in individual portfolio’s as is the requirement in some more tailored pension schemes.
We are presently working with clients on introducing automation for the processing of data received data from intermediaries and sponsors.
Most pension providers view the requirement for their clients and the intermediaries to be able to access their pension plan information through an on‑line web portal as a highly desireable feature. We anticipate delivering solutions in this area utilising the technology associated with our Service Orientated Architecture delivered through Flyingboat Plus Pack Integration Services coupled with web developments to suit specific client requirements.
