Pensions and Retirement Training Course on Outsourcing Pension Administration

Module 1: Introduction to Outsourcing in Pension Administration
Overview of pension administration functions suitable for outsourcing
Drivers of outsourcing: efficiency, cost reduction, expertise, and scalability
In-house vs. outsourced administration: comparative advantages
Global trends and models in pension outsourcing
Case study: Outsourcing transformation in a large pension fund

Module 2: Vendor Selection and Contractual Frameworks
Defining outsourcing objectives and scope of services
Procurement and due diligence in vendor selection
Structuring contracts and service-level agreements (SLAs)
Performance metrics and key performance indicators (KPIs)
Workshop: Drafting essential elements of a pension administration outsourcing agreement

Module 3: Governance, Oversight, and Risk Management
Establishing governance structures for outsourced functions
Roles and responsibilities of trustees, administrators, and service providers
Risk identification: operational, data, compliance, and reputational risks
Developing risk mitigation and business continuity plans
Exercise: Designing a governance and oversight checklist for outsourced services

Module 4: Data Protection, Security, and Compliance in Outsourced Administration
Ensuring data integrity, confidentiality, and ownership in third-party arrangements
Data protection legislation (GDPR and local frameworks) and compliance obligations
Secure data transfer and access control procedures
Cybersecurity measures for outsourced platforms
Case study: Managing a data breach under an outsourcing arrangement

Module 5: Performance Monitoring and Relationship Management
Ongoing performance evaluation and SLA compliance tracking
Handling disputes, underperformance, and contractual breaches
Vendor relationship management and communication best practices
Transition planning and exit strategies for outsourcing contracts
Capstone workshop: Building a long-term outsourcing management strategy