HP Retirement Benefit Plan reappoints EQ Paymaster

The Hewlett Packard (HP) Retirement Benefit Plan has reappointed EQ Paymaster as its third-party administrator for the next five years.

The duo have worked together since 2008, with the time in between having seen the plan invest in a range of member services that are integrated with EQ Paymaster’s front-end member engagement activity.

The HP Retirement Benefit Plan caters for around 14,000 current and former employees of the California-headquartered information technology company.

EQ Paymaster, a pensions administration specialist which is part of the Equiniti Group, said the appointment reflected the plan trustees’ goal of self-sufficiency and its focus on providing its members with the best experience and retirement outcomes available.

HP Retirement Benefit Plan trustee, Phil Lawman, commented: “We have a diverse membership that will be well served by EQ’s pension engagement experts. EQ have specifically trained staff that will be on hand to assist our vulnerable members.

"With multiple generations of HP employees now facing retirement choices, we are doing all we can to help them get the best outcomes possible.”

EQ Paymaster chief executive officer, Duncan Watson, added: “We’re delighted we will be working with the HP plan for a further five years. We are proud of the service we provide to members and the work we have done to boost engagement and secure better retirement options for HP’s members.”

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