Exciting times ahead! The data passport app mypensionID will be launching at the beginning of 2019.
mypensionID will empower members to take control of their data, providing a single interface to update information across providers. The application has been designed to revolutionise data collection, eliminate fraudulent payments abroad, reduce tracing costs, and provide robust international mortality screening that will allow regular international existence checking - and that’s just to start.
mypensionID will provide schemes with unprecedented data governance, while reducing the administrative burden associated with maintaining member data, and allow members to easily track their pensions through their working lives.
If you would like to hear how mypensionID could benefit your scheme, please call 01243 601 333, or email firstname.lastname@example.org.
Target were delighted to sponsor the Scheme Administration Award at the LAPF Investment Awards held at the Savoy, London. Target Professional Services Managing Director, Lisa Lyon presented the award to joint winners NILGOSC and West Yorkshire, congratulations to both.
The board of directors of Target Professional Services are delighted to announce the appointment of Michael Watkins as a non-executive Director with immediate effect.
Michael has a breadth of experience within the pension industry and is currently Head of Proposition Development at Smart Pension, Chair of the PASA (Pension Administration Standards Association) DC Governance Working Group, and the Founder and Chair of the NextGen Committee, which aims to promote and encourage next generation voices and thinking within the pension industry.
Commenting on the announcement, Lisa Lyon, Managing Director of Target, said: "This was an easy appointment to make; Michael is a technically-minded innovator who brings a wealth of experience to the team and a shared vision to modernise the pension industry.”
Michael’s ambition to revolutionise the way the pension industry approaches policy, products and people, is closely aligned with that of Target. This is a very exciting time for the organisation, which is on the cusp of launching mypensionID, a web-based application that is due for release in October 2018. The application has been designed to drastically improve data collection for schemes, using biometrics to verify a member it promises to eliminate fraud, reduce tracing costs, and enable international screening. It will also empower members to control their data, providing a single interface for them to update their details across multiple providers.
Of his appointment, Michael said: “I’m incredibly excited to have the opportunity to work with Target. It’s well publicised that the average person has 9 jobs in their working life. Updating pension providers with new address details can be a cumbersome process, or one that is treated as low priority, and often leads to individuals losing track of their benefits. This then becomes a costly exercise for the schemes whose responsibility it is to track them down. Enabling the member to keep their details up-to-date in a single place, with this information being relayed onto each of those schemes, is an incredibly powerful tool, and mypensionID will allow people to do just that.” If you are interested in hearing more, please contact a member of our team on 01243 601333 or email email@example.com.
Staff at Target are encouraged to spend two days per year volunteering in the local community. This is a great opportunity for staff to give something back whilst getting paid by Target. Today Brendon Hogan and Trudy Glew attended the Big Bang Fair, volunteering their time to support the Selsey Academy secondary school trip.
It was an inspirational event and the Academy were very thankful to Target for heavily subsidising the trip to enable all year 9 students to attend “We are here with Target, who have kindly sponsored us today to attend this fantastic event where the kids have experienced hands on science, technology, engineering and maths. We couldn’t have done it without Target” Nick Brown, Deputy Headteacher The Academy, Selsey.
Pupils from local secondary school The Academy, Selsey recently beat 6 other schools to win their area heat at this year’s Rock Challenge in Crawley. The dance group, supported by Target, created and developed every step of their performance themselves as part of the Rock Challenge initiative which aims "to inspire, engage and motivate young people to make healthy and positive lifestyle choices".
Made up of over 40 dancers and 20 crew members, the group wowed at the first event on Monday 29th January 2018. The Rock Challenge events encourage interaction and creativity and motivate participants to be the best they can. They then perform in front of sellout audiences in cities some have never travelled to before.
For some local children this opportunity would previously have been unimaginable, due to lack of finances or the desire to leave the area they live and attend school in. Whilst children are now expected to stay in education to the age of 18, Selsey youngsters must travel miles by bus to reach the nearest college with no funding offered for this.
The support provided by Target in our community ensures that local students are given opportunities that they may usually not experience and to broaden their horizons. This challenge, along with other educational projects backed by Target, strives to encourage local children to set higher goals for themselves and to support them in achieving these goals.
The Academy's dance group will next compete in the Southern Junior Final of the Rock Challenge competition in April. Target are extremely proud of the group’s accomplishments so far and are honoured to support them at each stage of their journey.
This year's PLSA Annual Conference took place in the Manchester Central Convention Complex from 18th to 21st October.
Lisa Lyon (MD) and the sales team were in attendance for the duration of the conference. With our stand in a prime location and an invitation to join the team for a glass of Veuve Clicquot they showcased the excellent and extensive services that Target provides, including the new International Verification app software and discussed all things GDPR related.
The most important annual event for anyone involved in pensions, attracted 1,500 top industry professionals and hosted over 80 exhibition stands. From trustees, pension managers and finance directors who control assets worth billions of pounds to HR specialists responsible for workforces of thousands of people, the delegates were made up of the most important pension decision makers in the country.
The conference included keynote speeches, streamed focus sessions, fringe meetings, a Trustee Learning Zone, exhibition and various social events.
The Bridge is a Youth Support Centre based in Selsey, West Sussex which is operated by the charity Youth Dream in partnership with the local secondary school, The Academy, Selsey.
Target Professional Services is proud of its longstanding support for such a worthy local initiative.
The Bridge has once again entered the Rock Challenge national dance competition for schools and colleges where students have to perform an 8 minute piece with a minimum of 20 dancers. After making the finals in the last two years they are hoping to make it a hat-trick.
Celebrating coming 3rd in the finals with Dorit
Over the last two years, the bridge has been choreographed by Chris Williams an ex-pupil of the academy who is studying performing arts at Havant a South Downs College. Under his teaching and guidance they have achieved 1st in heat and 3rd in the final for 'Dorit' and a 2nd in the heat for 'Jack The Ripper'
On Monday 29th January 2018 they will be performing Los Desaparecidos a story about the disappeared in Argentina. They have over 40 dancers and a support team of over 20 including hair, makeup and set crew. It takes a lot of time and dedication to compete and excel when they are up against performing arts colleges, more so when they did not have the drawback of losing all their set in a fire
Students rehearsing for Los Desaparecidos
Mike Nicholls, Chairman of Youth Dream, commented "We would not be able to compete without the fantastic sponsorship we receive from Target and the performers and team are overjoyed with their continued support".
The January performance will be in Crawley and we will keep you informed of the journey and the final results.
Andy has an update for us on May's progress from the last month.
Hoo would have thought it!
Target are honoured to be sponsoring May, a 6 week old snowy owl, who would have been put to sleep had she not been saved by Owls About Town, who rescue and rehome Owls for all kinds of reasons.
They are based in our home town of Selsey and are a Not for Profit organisation, and by sponsoring May it gives our staff a unique opportunity to ruffle some feathers.
We will “tweet” regular updates on Mays progress.
We are extremely proud to be able to announce, after vigorous third party auditing meeting UKAS regulatory requirements, Target’s quality management system has been certified as ISO 9001:2015 compliant.
The Kingfisher Pension Scheme have partnered with Target to ensure their basic pension member data is correct and up to date. If you have received a letter or telephone call from us, please contact us on 0800 988 1255 for further information.
When speaking to the one of our team we will not ask you for monetary information about your pension but are verifying, on behalf of the scheme trustees, that the address on record is correct for you.
You can visit the Kingfisher Pension Scheme website by Clicking here
It's hard to find your members, so make the best of the chances you get!
Talking with your deferred members...
One of the hardest things about running an occupational pension scheme is knowing who you're running it for. If you're running a family trust, you know the family, even if you're running an NHS trust, you know your patients are situated close to your hospitals. But if you run an occupational pension trust, your members can be - and usually are - everywhere.
Of course "everywhere" can be closer than you think. They might be living in Timbuktoo but if they've got a linked in or Facebook profile, they're with you at the click of a button! We leave a digital trail behind us that makes us easier to find than ever before and the fact that you are reading this digitally tells me that people can find you easily enough!
For trustees of occupational pension schemes, finding the beneficiaries of the pension plan is getting easier with digitalisation, but when you find them what are you going to say?
Most trustees would think it better to rephrase this
Trustees have a duty of care to their beneficiaries that extends beyond managing the pension pot, there is a moral - if not legal- responsibility to engage, educate and empower members to make sensible decisions around money.
As more members retire with a mix of DB and DC benefits (a growing number with just a DC pension pot), the need to understand the choices pension freedoms brings - become ever stronger.
That's why you hear so much from politicians, regulators and consultants about financial education.
But you cannot educate people unless you can engage with them. Which brings us back to the trustee's dilemma, how can I find my beneficiaries.
Of course many beneficiaries are harder to find than simply searching on linked in. People change name and a lot of people, especially older people, do not use social media to display themselves. Many hide their profiles for fear of predators and the business of finding these people requires expertise.
That's why we at First Actuarial employ professional tracing agencies on behalf of the trustees we work for. We've been using Target for a little while and we're pleased with their results, they find Trustees their beneficiaries.
But once they've been found, what can Trustees really do? We think their duty is to engage,educate and empower those with decisions to make, to take those decisions in an informed way.
Here's a video we use when we talk to members about the choices they have when they have a DC pot
We can't say for sure whether people will know what to do after watching videos or reading articles, but we know we have to try! People don't often pay attention to their pension, so when they do- it makes sense to grab the opportunity with both hands.
Target's Head of Business Development, Phil Ninness, was one of few experts to receive certification from the British Standards Institution for developing a government standard to provide organisations "clarity on the requirements to address the problem".
Katherine Hunter, Head of Standards Solutions awarded Phil "In appreciation of valuable contributions to the steering group for development of PAS: 156:2015 – Specification for the maintenance of financial services customer data".
Target are very proud to be part of the ongoing development in providing a solution and establishing good practice for maintaining accurate customer records in a timely manner, enabling improved customer contact, better informed decision-making from a customer perspective and the timely paying out of assets to customers or their representatives.
At Target we are all proud to be a part of the local community in Selsey. Lisa Lyon, the MD, has been volunteering as Chair of the Selsey Community Nursery for 8 months and in that time has turned it around with the help of a team of local parents, into a thriving, fun setting. Selsey Community Nursery celebrated it's proven success this weekend winning "Voluntary group of the year" at the Selsey Business Partnerships Awards, as well as one of the staff being highly commended as "Young Employee". We are again, very proud to be associated with such a positive community project.
At Target we take our corporate social responsibility very seriously. We were invited for the 2nd year in a row to visit Chichester Free School in order to present and talk to the pupils about internet safety and their online identity as they begin to explore aspects of social media and online gaming apps.
As one of the UK leading tracing companies, we know just how easy it is to find details about all aspects of an individual's life.
The 11-14 year olds recognised just how dangerous this information could be if it got into the wrong hands. They gave suggestions about how to protect their personal details, from setting their accounts to private and only interacting with people they knew in person, to not filling out the 'About Me' pages and not using their real names as characters in the games they play.
One of the students said:
Target are looking forward to going back within the next few months to talk to the younger students about the games they play and how they communicate with other users.
Target Professional Services (UK) Ltd.'s Information Security Management System has been successfully certified by the UKAS Accredited Auditors DAS Certification for the provision of;
This achievement demonstrates Target's commitment to ensuring client satisfaction, continuous process improvement, the development of our employees and ensuring an effective, straightforward process for our customers.
The certification means that clients and customers can continue to be confident they are dealing with a business that manages quality to meet their needs, saving them time and money, improving processes/performance and ensuring all business is completed compliantly.
The achievement of the ISO 27001 standard demonstrates that Target manages Information Security in a way which ensures confidentiality, integrity and accessibility of our data and shows a clear commitment to data protection, risk assessment and information assurance.
Our systems and controls have been independently assessed by the UKAS Accredited Auditors DAS Certification which shows that data security is at the forefront of everything we do, potential security incidents are identified and mitigated and that clients and customers can be comfortable in their dealings with us.
This Certification complements Targets existing ISO9001:2008 UKAS Accredited Audited Quality Management System.