Equiniti publishes: “EQ (Equiniti), the leading provider of pension administration and software services in the UK, is delighted to announce its appointment as pensions administration software provider to Royal Mail’s Collective Pension Plan (CPP).
Collective Defined Contribution schemes offer UK employers a viable and attractive solution to traditional DB and DC schemes, one where contributions are fixed for both employers and employees and risk is shared across members.
EQ’s award-winning pension administration software, Compendia was chosen following a rigorous selection process by the Royal Mail Group for its in-house teams, members and employers. The proprietary platform’s ability to adapt and innovate to meet the specific requirements of Royal Mail Group’s CPP proved a deciding factor. This approval also reflects the high standards of service delivery by EQ’s pension division, EQ Paymaster.
EQ is one of the largest providers of outsourced pension administration and software in the UK and already provides software services to numerous private and public sector clients.
Royal Mail’s selection of EQ follows a string of outsourced administration and software new client wins and renewals, including extending its key workplace pension scheme relationship with UKAEA and separately attracting one of the UK’s largest workplace schemes with over 100k members.
Duncan Watson, CEO at EQ Paymaster, commented: “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.””
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