New Three-Pillar Pension Technology

Helping our client design a new pension (pillars 1, 2 & 3) administration service.

The Challenge

Our client, a second-tier benchmarking consultancy based in London and Paris, sought our help.

Our client wanted to assist their end-client, a significant start-up pension product and pension technology provider from the Netherlands with sites in the UK and Spain.

The end-client had a problem because it wanted to understand potential entry points for its (pillar 1, 2 and 3) pension technology solutions in the UK.

The end-client, at that time, had no internal expertise to do that and so the end-client asked us, along with our client (a benchmarking consultancy), to assist.

Our Move

Working with our client and the end-client we embarked on a process of desk-based and face-to-face research.

The research was as follows:

(1) to identify the history of the UK pillar 1, 2 & 3 pension technology marketplace;

(2) on a discretionary basis, to propose and predict possible disruption points to that and potential gateways for a new pension technology provider; and

(3) at a high-level, to identify a way for a new entrant (such as the end-client) to possibly exploit such an opportunity.

We worked with our client to document the end-client’s requirements, their ambitions, product designs and pension technology specifications.

We then handed the documents over to the end-client together with the research data and notes gathered for the end-client’s own purposes going forwards.

The end-client decided to proceed with its pension technology solution.

This was part of its wider strategy of becoming a major pension and banking technology provider in Europe.

The Result

Knowledge is key.

By facilitating expert-level pension technology research and reviews with both our client and the end-client we were available to add significant value to the end-client’s product and pension technology design and development work.

Ultimately, the end-client benefitted from our expertise and was satisfied that it had the right information about the target market at the end of the exercise compared to the start.