Consultancy and administration firm Buck has launched a new digital assessment app for DB schemes trustees and company sponsors.
This application will give access to a range of information on how a particular scheme is performing.
This new app, known as Stride, will provide trustees with metrics around the funding, investment and risk of pension scheme, as well as showing any movement in these against key market indicators.
Buck says this will gives trustees meaningful insight into their funding position, and how they can appropriately manage risk to meet long-term targets.
This digital solution is designed to be straightforward, with information accessible with just “three clicks”.
In addition, Stride provides pension fund tracking information over time on several prescribed bases as agreed with trustees and sponsors, with the added ability to customise displays for ease of understanding, enabling trustees to have immediate oversight of their pension scheme financials.
Stride is the latest in a line of technology-driven solutions launched by Buck this year. The company said this demonstrated its determination to give clients “the tools they need to deliver the best pension performance for their scheme and positive outcomes for their members”.
It is available to download on both Apple and Android platforms and can be viewed using a laptop, desktop, tablet, or smartphone.
Buck’s head of retirement consulting Vishal Makkar says:“For trustees and company sponsors, knowing and understanding how their pension scheme is performing in line with their objectives is absolutely central to its effective management.
“With these individuals becoming increasingly focused on other issues, such as GMP equalisation and journey planning, having access to information about pension scheme finances in an efficient and simple way is vital.”