Western Pension Solutions (WPS) has become part of Collective Pensions, a joint venture between Vestey Holdings and Timpson Group.

Collective Pensions comprises three businesses, Arboreum Pensions, D8A People, and now WPS, each focused on a different part of the pensions market.

WPS said it will work with Arboreum Pensions on the development of collective defined contribution (CDC) pension arrangements for family-owned businesses, while continuing to offer services for family businesses with defined benefit (DB) pension schemes.

Alongside the move, WPS announced several senior appointments and leadership changes.

Julian Lyons joined the firm's advisory board, while Greg Morris stepped back from day-to-day client consulting to take up an advisory board position.

Ben Vickers, Esmé Goulton and Spencer Thomas will lead WPS's actuarial consulting practice.

Vickers and Goulton will continue to advise clients on strategic consulting, governance and endgame planning, while Thomas will oversee technical and modelling capabilities.

The firm also appointed Colin Haines as senior client relationship manager and Iain Clarke to a senior business development role.

Haines will lead client-facing work on CDC pensions, while Clarke will focus on employer engagement.

WPS said it had expanded its services to include strategic pensions consulting, endgame planning, company-side project management for buy-in, buyout and wind-up transactions, surplus management, and CDC solutions.

WPS noted that CDC schemes pool investment and longevity risk across members and could improve retirement outcomes over the long term.

The firm added that CDC is an area they are “proud to be helping shape”.

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