UK - Buck Consultants is outsourcing its administration business to accountant Moore Stephens.
Buck’s pension administration clients will be transferred to Moore Stephens which will provide pension accounting, treasury and pension payroll services to the consultant's clients.
Buck decided to outsource its administration business following a strategic review of its services.
Buck’s director of pensions administration Phillip Bretnall said the decision to team up with Moore Stephens was taken “after very careful consideration”.
Bretnall added that in order to protect clients' interests and ensure the quality of their service offering, the firm has carried out due diligence to ensure that Moore Stephens is able to meet its service provider requirements.
Moore Stephens’ director of administration, John Baylis, said that the firm was delighted to be selected as Buck’s alliance partner.
He added: “Outsourcing is a rapidly increasing part of our business portfolio and we welcome this opportunity to build a significant and valuable partnership with Buck Consultants and its clients.”
By Geoff Ho
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.