XPS Pensions selected to administer Metropolitan Police pension scheme

(Alliance News) - XPS Pensions Group PLC on Wednesday said it has been appointed to provide administration services for the Metropolitan Police Service's police pension scheme.

The Reading, England-based pensions consultant and administrator said the appointment for a term exceeding seven years is subject to contract.

XPS said it was awarded the scheme after a competitive tendering process as part of a wider consortium, led by DXC Technology Co.

The scheme has over 80,000 members and will become XPS's largest public sector administration client, it said.

The firm noted that the appointment follows its success in delivering the McCloud remedy for over 38,000 members of 33 police forces in the UK.

"This award further strengthens our position as the leading administrator of police pensions across England and Wales. Our long-standing expertise and deep subject-matter knowledge, most recently demonstrated through the successful delivery of the McCloud remedy for our existing police clients, were key factors recognised during the tender process," said David Watkins, managing director of XPS Administration.

"We look forward to working closely with DXC, our consortium partners and the Metropolitan Police, to welcome transferring colleagues as we ensure a smooth and supportive transition. Together, we are committed to delivering a high-quality, resilient, and member-focused service for the Metropolitan Police."

Shares in XPS Pensions were up 0.7% at 341.00 pence on Wednesday afternoon in London.

By Michael Hennessey, Alliance News reporter

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