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
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers