Pension Lab processes more than one million digital LoAs

Letters of Authority require advisers to obtain information from a range of providers and schemes through differing processes and service standards. When done manually, LoAs often involve gathering wet signatures from clients, paper and post, scanning and uploading documents, and no progress visibility, Pension Lab said. Pension Lab's 2024 What Lies Beneath Letters of Authority research estimated that almost four million LoAs are sent annually across the pensions and investments sector, with advisers spending an average of 65 minutes processing each request. Delays often exceed 50...