Royal Mail CDC pension scheme appoints EQ as software supplier

Royal Mail’s collective defined contribution (CDC) pension scheme, the Royal Mail Collective Pension Plan (CPP), has appointed Equiniti (EQ) as its pension software supplier following a selection process.

EQ’s pension administration software, Compendia, was chosen by the Royal Mail Group for its in-house teams, members and employers, with the platform's ability to adapt and innovate in order to meet the CPP's specific requirements identified as a “deciding factor”.

Commenting on the appointment, EQ Paymaster CEO, Duncan Watson, said: “We are delighted to be selected as the supplier for Royal Mail and are excited to be part of such a prestigious development in the UK pension market.

“There is a growing appetite for reduction in risk for pension schemes, and CDC offers the perfect opportunity for schemes and members to avoid market volatility with their combined savings.

“We have a strong track record of delivering solutions for complex pension schemes and this appointment is testament to the expertise of our team, the sophistication and quality of our technology and our market experience.”

The appointment has also been highlighted as the latest in a string of outsourced administration and software client wins and renewals for the provider, including its recent reappointment as third-party administrator to the HP Retirement Benefit Plan.

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