Capita Hartshead has been appointed to provide central administration services, including scheme accounting and secretariat duties, to Electricity Pensions Trustee Limited (EPTL) and Electricity Pensions Limited (EPL), the central bodies of the Electricity Supply Pension Scheme (ESPS). This appointment sees Capita Hartshead take over the functions currently provided by Electricity Pensions Services Limited (EPSL).
Richard Aitken-Davies at EPL said: “Running the Electricity Supply Pension Scheme is a demanding task and EPSL has served the scheme admirably over the past 15 years. With further devolution of functions to our 23 Employer Groups and a consequent reduction in centralised activities, we wanted to make sure that we had a support team with access to the resources, experience and skills we need to ensure continued high accounting and secretariat standards and good governance. Capita Hartshead demonstrated that they could help us provide the trustees and participating employers with a service which is efficient, effective and sustainable.”
Malcolm Pearce, Pensions Operations Director at Capita Hartshead commented: “We are delighted to have been selected by EPTL and EPL to undertake the services currently provided by EPSL. With the existing team moving across to Capita Hartshead we will ensure continuity of service and retain the considerable knowledge they have of the ESPS. We believe that with our extensive pension, trustee secretariat, consulting and outsourcing experience we will add further value and efficiencies to the services received by EPTL, EPL and all of the participating employer companies and their group trustees.”
With effect from 9 January 2012, Capita Hartshead will be responsible for overseeing all the central activities required to run the Electricity Supply Pension Scheme (ESPS), including liaising with advisers, other service providers and the 23 Employer Groups of the ESPS. Provision of these services will be managed by Peter Rolland, Contract Manager, at Capita Hartshead’s London office.
Under the contract which runs for 10 years, it is planned that eight existing EPSL staff will transfer across to Capita Hartshead.
|
