Bank of New York announced yesterday its appointment by the £300m Laporte Group Pension Trust to provide investment accounting, compliance monitoring and global custody services.
Benjie Fraser, managing director, UK sales, Bank of New York, said: This appointment is continuing evidence of an accelerating trend. Investment accounting is rapidly becoming a ‘core’ service to UK pension funds.
Laporte is a multinational chemicals company.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.