UK - Pensions administration systems provider Aquila has acquired competitor Lynx Heywood.
The combined operation will offer technology solutions to more than 200 clients and administer the pensions of 5.5 million pension scheme members.
Aquila joint chief executive David Ackroyd said: “The businesses will continue to operate as discrete entities to ensure continuity for existing clients, while benefiting from the opportunity to share best practice across the whole group.”
The Co-operative Group's Somerfield Pension Scheme has completed a buy-in with Pension Insurance Corporation (PIC), insuring the benefits of its pensioner members.
Caroline Rookes CBE and Michele Hirons-Wood have joined The Pension Superfund's board of trustees to focus on maintaining governance standards and safeguarding member benefits.
The first specialist independent firm advising pension schemes on bulk annuities or moving to a consolidator has been set up with ambitions to shake up the market.