Mercer has been appointed by Polestar Pension Trustee Limited to carry out full administration services for the Polestar Pension Scheme, a closed defined benefit scheme.
The scheme, which has been closed to new members since April 2003, has over 8,600 pensioners and deferred members.
Jill Carruthers, a Principal at Mercer and Client Relationship Manager for the Polestar Pension Scheme, commented: “The scheme is amongst a growing number of closed schemes now outsourced to external administrators. The benefits of this move include long-term cost savings and efficiencies from using a specialist provider, and the ongoing investment in staff training, online member communications and specialist administration systems.
“We’re delighted to be taking care of this major scheme,” she added.
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