Online services cut cost of trustee elections

21 July, 2010

Towers Watson has developed an online tool that is says can dramatically cut the costs and amount of time associated with member-nominated trustee (MNT) elections.

Using ePA, Towers Watson’s ‘real time’ web application, can slash costs involved in MNT elections by over a third in the first year of use and two-thirds in subsequent years, the consultant claimed.

Jane Murray, director of technology and administration solutions at Towers Watson said: "For larger schemes the potential savings are more considerable, as paper-based costs increase with the size of membership while online costs do not.”

The tool allows companies to streamline the process and reduce costs such as election forms, covering letters, candidate CVs, postage, pre-paid return envelopes, results collation and reporting, and confirmation letters. As the tool is online, it also provides firms with automatic result counting and can cut the risk of errors.