22 May 2007
eShare Launches eView to help improve Member Knowledge
The Pensions Regulator believes that giving members access to information about how pension schemes are run will drive Trustee performance and behaviour. Yet a survey performed by eShare showed that in many cases Trustees still don’t have the sort of web based access to information that The Regulator wants members to have. eShare have launched eView to fill both voids.
Since The Pensions Regulator was launched in 2005, their focus has mainly been placed upon the role of the trustee. With 10 codes of practice finalised and published, it would appear their attention is now being turned towards engaging members in the operation of the scheme.
The Regulator wants to provide scheme members with greater access to information – which in some cases the trustees themselves do not have direct access to. Member knowledge is something which became an issue last year when schemes had to issue funding statements to all members; a trend which is set to escalate.
At the time, the response to this communication was varied – some schemes welcomed it, some opposed it and others wanted the freedom to communicate in their own way. For the members themselves the reaction was also mixed; some felt it was overdue and that they wanted to be informed more of scheme developments; others were confused by the information or were just not interested in receiving it.
“At eShare we have been monitoring the desires of The Regulator regarding member involvement,” said Alister Esam, Managing Director of eShare. “It is a topic which is sure to escalate in the near future and something which schemes need to prepare for now.”
As the UK’s leading provider of governance software, eShare have developed eView. eView helps schemes to meet the demands of The Regulator without the need for major changes. The development of eView allows communication of all necessary information relating to the scheme.
eView allows the pension scheme to assume responsibility for content they provide to members and also versions and tracks all changes to the website which is an essential component of a governance web presence.
eView is a standalone product however it really comes into it’s own where schemes use eShare. In that case eView becomes a window on the live pension scheme operation.
“eView is something which we originally developed with one of our clients; the need has now grown and several of our other clients are implementing this solution,” said Alister. “eView allows schemes total flexibility in their communications with members – and this can all be done at a low cost. Members have access to the real time picture and The Regulators demands have been satisfied – all through one simple solution.”
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