Small Scheme of the Year
Winner: Scottish Federation of Housing Associations (SFHA) Pension Scheme
A commitment to the highest levels of service has brought success for the SFHA Pension Scheme in the Small Scheme of the Year category.
The SFHA (Scottish Federation of Housing Associations) Pension Scheme is administered by The Pensions Trust under the direction of the SFHA Pensions Committee and caters for staff employed by housing associations in Scotland. It has 160 employers and an ever growing membership which currently stands at around 6,000 members.
Services provided to members include:
- A specialist final salary team.
- Unrestricted benefit quotations.
- Dedicated account executive and client manager for each employer.
- Choice of electronic or hard copy contribution data transmission.
The scheme's success is a result of the emphasis on customer service as well as communication and consultation with members and employers.
The scheme achieves 100% in all service standards and aims to further boost membership with membership drives and new entrant presentations.
As an industrywide scheme, the trustee and committee recognise the need to consult all SFHA stakeholders before any changes are made.
Members and employers were recently consulted on changes following the latest actuarial valuation. This consultation includes the issue of press releases, letters detailing draft valuation results, discussion of proposals at employer forums, feedback on responses and reminders issued a month before changes come into force.