Capita Employee Benefits selects RiskFirst’s PFaroe to enhance holistic consulting approach
28 May 2015
The employee benefits consultancy will use RiskFirst’s web-based platform to provide its defined benefit (DB) clients with actuarial valuation, investment monitoring and risk management analytics holistically, and in real-time. The agreement means that over a third of UK DB schemes now have an advisor using PFaroe.
Capita Employee Benefits – the largest UK-owned employee benefits consultancy with over 50 qualified actuaries – has adopted RiskFirst’s real-time analytics and reporting platform, PFaroe. PFaroe will allow Capita Employee Benefits to provide clients with granular valuations, as well as enabling them to evaluate clients’ risk from multiple perspectives and to perform real-time scenario stress-testing. Clients will also be able to access scheme information directly through the system’s online dashboard.
Julie Stothard, Director of Actuarial, Investment and DB Consulting, Capita Employee Benefits, says: “We take a holistic approach to advising clients – with our actuaries, investment consultants and DB consultants working as a single team – and we therefore needed a system to complement this philosophy. Having one system that allows us to analyse risk, implement de-risking strategies and look at long-term funding solutions – all at the click of a button – will not only drive improved efficiency, but also enhance client interaction and experience.”
Matthew Seymour, Managing Director, RiskFirst, comments: “ PFaroe’s cross-balance sheet analytics were specifically designed to help engage pension schemes in pension risk management. Over a third of the UK DB market now has an advisor using PFaroe - it’s pleasing to see such a large portion of schemes benefiting from the analytics through agreements such as this.”
About Capita Employee Benefits
Capita Employee Benefits is the largest UK owned employee benefits business. Services it offers include; pensions administration, data cleansing, auto-enrolment, investment consultancy, employee benefits consultancy and DC and DB pension scheme consultancy. In addition to these services, Capita Employee Benefits offers award winning pensions administration and employee benefits technology, including its online employee benefits portal - Orbit. It currently provides services to over 1,000 public and private sector clients, manages 300,000 people’s employee benefits via Orbit and administers 4million members’ pensions. Its workforce comprises of over 2,400 employees operating from 19 locations across the UK and Ireland. Capita Employee Benefits is part of Capita plc, a FTSE 100 company.
For more information visit www.capitaemployeebenefits.co.uk