Decision Time Delivers for Royal Mail Pensions
Decision Time has secured a contract with Royal Mail Pensions Trustees Limited (RMPTL), which manages £14 billion worth of assets on behalf of 124,000 members.
RMPTL looks after the pension plans of Royal Mail employees past and present, ensuring that the money invested by members is safeguarded. As such, it is responsible for investment, governance, finance and administration of one of the largest such schemes in the UK.
RMPTL has procured Decision Time’s risk management software to ensure that its risk management processes are of the highest standards.
Peter Wilson, Finance, Risk & Investment Operations Consultant at RMPTL, explains: “RMPTL has to be compliant with very high standards of legislation, regulation, industry codes and standards, and has to manage a wide range of risks. Our structure means that we have a number of committees who report into a central board and they all feed into the risk management process. We needed a solution that would help us streamline this process and make it as robust as possible.”
“The implementation of Decision Time has been straightforward and seamless and has given each committee member more time to focus on making important decisions and on managing risk. It has made the risk management process a lot slicker and much more professional and ultimately makes our risk management process more thorough and robust,” he adds.
Geoff Higgins, Managing Director of Decision Time, said: “With an increasing number of regulations and policies being introduced within the pensions sector, including the Pensions Regulator’s Effective Systems of Governance (ESOG) requirements, Royal Mail Pensions took the decision to seek a more effective tool for managing risk. Decision Time was recommended to RMPTL by one of its board members and the organisation has now adopted our risk product across its board and committees.”
“Effective governance has become front and centre in a lot of sectors and organisations which has led to strong demand for the products that we offer. The pensions sector is one of our fastest growing markets, but we are seeing similar trends in the housing association sector, in credit unions, and across the public sector,” he adds.
The RMPTL contract adds another significant name to Decision Time’s blue-chip customer base that includes Tourism NI, Translink, KPMG, and HM Land Registry. Decision Time also works with more than 80 housing association customers and over 30 credit unions.
Read our Royal Mail Pensions Trustees Limited case study here.