What's Happening?
The Greencore UK Retirement Benefit Scheme has expanded its partnership with Barnett Waddingham to include actuarial and investment consulting services. This extension builds on their existing relationship,
which already covers pension administration and board management services. The scheme, which has nearly 4,000 members and assets of approximately £200 million, will now benefit from a fully integrated suite of pension services. The decision to expand Barnett Waddingham's role was driven by a desire to improve efficiency and reduce costs, following a successful transition to their administration services in 2018.
Why It's Important?
The expansion of Barnett Waddingham's role in the Greencore UK Retirement Benefit Scheme highlights the growing trend of pension schemes seeking integrated service models to enhance efficiency and cost-effectiveness. This move reflects the importance of streamlined operations in managing pension funds, which can lead to better outcomes for members and sponsors. The decision underscores the value of building strong, trusted relationships with service providers, which can lead to more cohesive and effective pension management strategies.
