24 Oct 2018 07:00
Media Release
24 October 2018
Equiniti Wins Nuclear Pensions Contracts
Equiniti Group plc ("Equiniti"), one of the UK's largest pension administrators, is delighted to announce that it has been awarded pension administration contracts for the UK Atomic Energy Authority and for the Combined Nuclear Pension Plan ("CNPP").
The schemes, which have 60,000 members, support virtually all employees and former employees engaged in the UK nuclear industry, will be serviced from EQPaymaster's office in Caithness, Scotland. EQPaymaster will move the staff to new offices in Thurso in early 2019 as part of re-platforming the administration on to Compendia Touch, Equiniti's award winning pension administration platform.
In June 2017 Equiniti took over a facility at the Forss business and technology park from Aon, and sub-contracted to Aon. Today's announcement sees that work transferred directly to Equiniti and secured until 2028.
Once CompendiaTouch is operational in Caithness the team there will have the opportunity to take on new contracts, in addition to the existing work. This in turn will provide the chance for local people to work in an environment which is continually evolving and meeting the needs of both clients and scheme members.
Commenting on contracts, Ric Williams, EQPaymaster CEO, said: "I am delighted to welcome UK Atomic Energy Authority and CNPP as direct clients. We have been working with them since we stepped in after Aon withdrew from this market and our appointment is a testament to the quality of our team in Caithness. I intend to build on my ambitious and capable team, that is already doing highly skilled work for clients who are not only important to us, but also to the UK's energy infrastructure."
ENDS
For more information:
Temple Bar Advisory
William Barker / Sam Livingstone
Tel: 078 2796 0151 / 077 6965 5437
Email: Equiniti@templebaradvisory.com
Notes to Editor:
About Equiniti
Equiniti Group plc is a specialist administrator delivering technology-enabled solutions to some of the world's best-known brands and UK's largest public-sector organisations.
It is the UK's leading provider of share registration, employee share plans, and associated investor services, and also has market leading positions in pension administration and software, and employee benefit schemes. Equiniti's services, which are delivered by over 5,000 employees, benefit 28 million people in the UK and 120 countries around the world.
Equiniti's pensions division - EQPaymaster - is one of the largest providers of outsourced pension administration and specialist pension software in the UK, working with schemes in the public and private sectors with complex defined benefit, defined contribution and hybrid arrangements such as BAE, GSK, the NHS and Civil Service. In addition, EQPaymaster provides specialist pensions savings and retirement income administration services to the insurance sector.
The wide array of administration services provided include; member record keeping and maintenance; web; treasury; accounts; communications; and pensioner payroll.
Equiniti supports over nine million pension scheme members and in 2017 paid £31 billion to 3.5 million pensioners and annuitants.