News

Dunstan Thomas launches Imago GPP to automate bulk transfers and other bulk administrative tasks

28 April 2014

Auto Enrolment is increasing demand for bulk transfers to new GPP workplace schemes to meet staging date deadlines.Dunstan Thomas, the retirement market IT solutions provider, launched Imago GPP today to enable automation of key administration tasks of groups of new members simultaneously. The new offering enables bulk on-boarding, group contributions, group asset allocation, group valuations and group illustrations. Imago GPP enables:

1. Groups of new members to be added onto a scheme at the same time.
2. Accurate dispersing of one single contribution across groups of members, based on the level that each member is contributing.
3. Allocation of funds/assets by group.
4. Valuations for a group as a single value and by scheme member’s individual account.
5. Bulk illustrations - including reporting, reviews and ad-hoc illustrations.

All illustrations can be viewed through Imago Front Office via a new desktop illustrations tool called Imago Auto Engage which enables display and printing of scheme members’ statutory documentation.

Several Dunstan Thomas clients have already requested this group administration capability including COURTIERS Investment Services Limited.

Christopher Read, chief executive at Dunstan Thomas, explained: “Rapid processing of bulk transfers and other administrative tasks for GPP scheme operators is critical for firms which have decided to give more senior staff the option of a GPP instead of the standard AE pension scheme, for example. In this instance, The Pensions Regulator will demand that this work is complete by the employer’s staging date - so firms often need to move fast to transfer large groups of customers in an efficient manner.”

Maggi Tuck, head of retail compliance at COURTIERS Investment Services Limited, at Courtiers, an Imago customer commented on Imago GPP’s launch: “This functionality has come at the right time for us. We are looking to utilise its bulk admin capabilities for our schemes from next month.”