News in brief – 1 April 2022

EQ has been appointed as pension administration software supplier for the West Midlands Pension Fund.

The administration and software services provider was appointed through the Local Government Pension Scheme (LGPS) National Framework following a “rigorous” selection process, and is the first new entrant to the market to be appointed by an LGPS fund in over 10 years. EQ developed the LGPS software on its pension administration platform, Compendia, in order to provide LGPS funds with an alternative software solution. A “deciding factor” in EQ’s appointment was its platform’s ability to “adapt and innovate” to meet the specific requirements of the fund.

Lloyd’s of London has partnered with Schroders Solutions for its new market investment platform.

Schroders Solutions was appointed as investment partner of Lloyds’ new investment platform, which the firm said represented a “significant step” towards improving the competitiveness of the Lloyd’s market by making it easier to generate attractive risk-adjusted investment returns. The new platform will allow investors in the Lloyd’s market access to a broader range of investment opportunities, including private assets.

Starling Bank customers will now be able to track their PensionBee pension without leaving the app.

PensionBee pensions are now available to sole traders, in addition to the owners of limited companies, through the Starling Business Marketplaces. Since the launch of their partnership in 2018, when PensionBee became the digital bank’s first financial services marketplace integration, the two companies have strengthened their 2-way API integration through the development of new features, using Open Banking technology. Now all Starling customers can sign up and combine their old pensions without leaving the app. Open Banking enables PensionBee to use existing customer information held by the digital bank.

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