The Greencore UK Retirement Benefit Scheme has appointed Barnett Waddingham to provide actuarial and investment consulting services, extending its existing relationship that already covers pension administration and board management services.

The move means the consultancy will now deliver a fully integrated suite of pension services to the scheme, which has just under 4,000 members and assets of approximately £200m.

Under the expanded remit, the scheme will utilise a more streamlined approach to advice and communication, with actuarial, investment, administration and governance services aligned through a single adviser.

Barnett Waddingham said this integrated model was designed to improve efficiency and coordination across all pension matters.

The advisory team supporting the scheme included Barnett Waddingham partner and scheme actuary, Paul Hubbold; investment consulting partner, David Barnett; pension administration partner, Andy Greig; and senior pension management consultant, David Guest.

Commenting on the appointment, Barnett Waddingham partner, Paul Hubbold, said the expanded role marked “a significant step forward” for both the firm and the scheme.

“By bringing together our existing work in pension administration and board management services with newly added investment and actuarial consulting, we’re now delivering a truly integrated service model to support the scheme and its members,” Hubbold said.

He added that the appointment reflected the strength of the existing relationship and the trust built with the trustee.

Meanwhile, Strettea Independent Trustees Limited trustee chair, Allan Whalley, explained the decision followed a benchmarking exercise and was driven by efficiency and cost considerations.

“The transition to Barnett Waddingham administration in 2018 went very smoothly, and the team has consistently delivered excellent service since then, so we didn’t want to disrupt that,” Whalley continued.

“This move was all about improving efficiency and reducing overall cost, and we’re confident it’s the right outcome for the trustee, the members and the sponsor.

"I am grateful to our previous advisers for the important role they played in helping the scheme reach this point, but this decision was about what’s best for the scheme going forward."

---