UK - BlackRock has acquired dc-Link in order to bring the administration of BlackRock's defined contribution (DC) pension schemes in-house.
BlackRock said it had partnered with dc-Link since 2004 to deliver clients’ administration.
Steve Rumbles, head of DC at BlackRock, said: “As defined contribution fast becomes the main form of pension provision in the UK there is an increased need for modernising DC products and services.”
Rumbles also said the development complemented the launch of BlackRock’s target-driven investment (TDI) approach and its recent additions to the UK DC team.”
The terms of the transaction were not disclosed at the time of going to press.
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The lifetime allowance should be scrapped and replaced with a lower annual allowance, last week's Pensions Buzz respondents said.
Action for Children Pension Fund has outsourced its pensions administration to Trafalgar House.