News in brief - 1 June 2022

The National Local Government Pension Scheme (LGPS) Pensions Administration Operational Support Services Framework has appointed Aon as an adviser.

The framework includes communications and engagement services alongside administration support services, and provides LGPS funds with efficiencies in procurement activities. Where appropriate, funds will be able to approach Aon directly for administration and communications support and projects, without the requirement for a further competitive tender, which is expected to provide LGPS Funds with “significant” time and cost savings. "For the Aon team, this appointment to both ‘lots’ on the framework is a recognition of the expertise of our people and the quality of our innovative services across the LGPS," Aon partner and head of public sector wealth solutions, Alison Murray, said. "We look forward to extending our working relationship with funds across the UK.”

Guiide has partnered with Origen Financial Services to offer pension savers retirement modelling tools and guidance alongside specialist financial advice.

The providers highlighted industry research that showed many savers, around 100,000 Brits, are turning to Google for help on pension planning, with around 80 per cent believing they received no, or not enough support, from other sources, such as their employer or scheme. Incorporating Guiide's retirement modelling, guidance tools, and ongoing tracking support, the partnership is therefore expected to help offer pension savers a simple route to the base level of help being searched for. Origen will then also be able to offer specialist advice to those that need it, such as in cases where savers may have complex tax or legacy issues.

Staff from the National Grid UK Pension Scheme have now completed the move to the Barnett Waddingham's Guildford offices.

Following the decision to move away from its existing in-house model, the National Grid UK Pension Scheme appointed Barnett Waddingham as its third party administrator earlier this year, after undertaking a competitive tender process. A total of 27 former National Grid employees have now joined BW permanently, with these staff to retain responsibility for the administration of the pension scheme, which has over 50,000 members and around £12bn in assets. Trustees will also have access to a dedicated team of BW experts across its pension administration services and creative agency, DrumRoll.

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