UK - FPS Group, a specialist provider of sponsored pension schemes and administration services, has been awarded a £70m defined contribution mandate by the University of the West Indies.
FPS Group will provide unbundled pension services to the scheme’s 1,200 members using its new online DC platform.
Paul Sturgess, business services director at FPS Group, said: “We are delighted to have added the University of West Indies to our growing international client list. It is further evidence of the success of our strategy of investing in online DC systems.”
Apart from DC pension schemes, FPS offers stakeholder products based upon trust based products for the SME market and as an outsourced service for institutional clients.
By Janet Du Chenne
This week's edition of Professional Pensions is out now
MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".
Aegon has called for the government to double the tax exemption on employer-arranged pension advice, up from £500 to £1,000.
Institutional investor confidence in Europe rose by 8.9 points in April with each region showing growing appetite for risk, according to State Street Global Exchange.