Outsourced Pensions Administration
Third Party SIPP Administration – Dunstan Thomas
The Dunstan Thomas TPA team are exceptional administrators, experienced from years working in the SIPP, pensions, investment and platform markets. Products are administered on Imago technology, developed by Dunstan Thomas and is used extensively in the market.
Third Party Administration
Dunstan Thomas' award winning pensions administration service provides a low cost, quick to market and flexible outsource administration solution. Dunstan Thomas can handle commoditised aspects of managing a pension to enable a pension provider to focus on their USPs.
The service is highly configurable and well suited for integration and straight through processing, delivering efficiencies and driving down costs. Dunstan Thomas products and the TPA team can be combined to create a managed pension proposition.
SIPP Administration in Action
Following a selection process in which Dunstan Thomas proved both its SIPP administrative capability and ‘can do’ attitude, 7IM elected to partner with Dunstan Thomas to build its SIPP product and the pensions administration system to underpin it.
Dunstan Thomas now administers all 7IM SIPPs using its Imago Administration software and outsourced pensions administration service.
In 2021, 7IM Self Invested Personal Pension (SIPP) surpassed over £1.5bn in assets under management (AUM), supported by Dunstan Thomas’ outsourced administration service.
The TPA Customer Journey
TPA is an outsourced SIPP administration service delivered by experienced SIPP and Outsource practitioners. From client onboarding through to delivering benefits to policy holders, TPA is delivered on best of breed technology using Imago and Integro CX from Dunstan Thomas.
1.Client Onboarding
The service takes care of client onboarding processes, including due diligence. Once integration work is concluded, client onboarding is part of the automated suite of Straight Through Processes (STP) orchestrated by Imago Administration.
2.Transfer Assets
The service includes transferring assets from one financial institution to another, which can either be a simple, fast process (cash) or a slightly longer process depending on the assets involved. Dunstan Thomas are working with STAR to improve the efficiency of the process across the industry.
3.Contributions
Automatic cash matching allows aggregated pension contributions to be apportioned accurately to the correct individual accounts. This is completed automatically via Imago Administration.
4.Investments
The service helps to manage investments, on behalf of the trustees, dealing in investments as agent. Information can be accessed through Imago technology.
5.Drawdown
The service can support multiple drawdown arrangements in payment and correctly attribute income and PAYE deductions as well as rebates for each arrangement. Inbuilt controls for income drawdown ensure full compliance with regulations.