Capita Pension Solutions has launched a full-service solution for defined benefit (DB) pension schemes, designed specifically to support smaller schemes.

The integrated delivery model combines actuarial, investment, administration, and member services.

The solution was designed specifically for schemes with assets typically of less than £500m, and aims to address the unique challenges that small DB schemes face, including end game planning and the requirements of the new General Code of Practice.

In particular, it aims to provide better outcomes for trustees, employers, and members by allowing access to the expertise, flexibility, and opportunities usually enjoyed by much larger schemes.

Provided under a single fee structure, the tool also aims to improve the member experience, providing support on communications.

In addition to this, Capita suggested that those using the solution will have better endgame options, stating that those schemes within CP360 will get the attention of insurers if they opt for a buyout or buy-in.

Capita Pension Solutions managing director, Stuart Heatley, said: “Despite the promises of simplification, pensions have never been more complex.

"More rules and regulations, the pressure to control cost, and delivering the best possible outcome for members means running a pension scheme has never felt more challenging.

"Pensions are a huge responsibility regardless of scheme size and so we are excited to launch CP360 and give trustees access to benefits and services usually only enjoyed by larger schemes, to help them achieve their ultimate end destination.”

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