Lumera has partnered with The Lewis Workplace Pension Trust (TLWPT) to “drive digital transformation” within the defined contribution (DC) workplace pensions.
TLWPT says it has moved from an external provider to in-house administration, giving it full control over member and employer experiences, as well as greater operational independence and direct oversight of data and governance.
The master trust says this move enhances the experience for both members and employers across all areas of management.
TLWPT says that the partnership means it now benefits from straight-through processing and automation for contributions, reconciliation, reporting and investment operations. It had previously relied on several trusted third parties, which entailed multiple, disjointed systems, technology and manual solutions.
TLWPT and Lumera have also launched a rolling programme of new features, which is supported by Lumera’s API capabilities.
The Lewis Workplace Pension Trust founder Tim Lewis says: “Through our great partnership with Lumera, we attain low cost of service by virtue of a highly scalable platform capable of automating almost everything for us. Becoming Lumera’s first UK client comes with the benefit of their experience from serving over 20 million members across Europe. With strong investment performance, taking control of our administration was the next natural step, a move which is greatly facilitated by this solution.”
Lumera Group chief commercial officer Peter Roos says: “We are delighted to be supporting TLWPT and transforming their experience. With a scalable technology infrastructure in place to accommodate growth, new functionality and easy integration with pension dashboards, we demonstrate how Lumera has addressed the needs of the UK market for providing future-proof administration platforms.”