UK - Logistics company Tibbett & Britten is outsourcing the administration of its £285m final salary scheme to Jardine Lloyd Thompson.
The scheme has around 15,000 members – 6000 active, 6500 deferred and 2500 pensioners.
As part of the outsourcing arrangement, a number of the existing Tibbett & Britten in-house pensions team are expected to become JLT employees and relocate to its London offices.
Phase one of the implementation will require a number of staff from JLT’s administration solutions team to work on site at Tibbett & Britten’s offices in Barking, Essex.
Once this initial preparatory phase of the project is completed, JLT will be providing services from its London office.
Tibbett & Britten group HR director Jo Robbins said: “By outsourcing our pensions administration we can benefit from new technology, improved risk and procedural control and industry expertise.”
Robbins said pensions continued to be a high priority business issue and working with JLT would allow the firm to concentrate on member communication and policy issues.
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