UK - Engineering firm FCx International has appointed HS Administrative Services to manage its retirement benefits scheme.
The third-party administrator, which is part of Aegon UK, will provide administration, payroll and accounting services to the hybrid scheme, which has more than 1500 members.
The scheme was previously administered by Mercer HR Consulting.
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.