The Trustee of the Manchester Airports Group (M.A.G) Defined Contribution Pension Scheme has appointed Buck Consultants at Xerox to provide pensions administration and member technology services. The services will include guidance on the fast-approaching reforms related to the new ‘Freedom and Choice’ proposals that come into effect in April 2015.
Buck Consultants at Xerox was chosen for its focus on tailoring its solution to the client needs, and on delivering high quality member administration services. Both elements were essential for M.A.G and the Trustee due to the unique workforce within the group’s airports. The Scheme has 2,500 members and over £20 million of assets
“The group and the Trustee were very keen to develop a solution which allowed them to fully engage with their members on both the DC pension benefits that the group provides and also the implications of the new 'Freedom and Choice' proposals,” said Mark Cliff, reward director at M.A.G. “It was vitally important for us to partner with a provider who was flexible in its approach. Throughout the selection process Buck proved it had the expertise and capabilities to address these needs and we are very pleased to be working with them.”
David Piltz, head of Trustee Services at Buck Consultants at Xerox said:
It will be essential for employers to engage with employees effectively on the introduction of the new pension freedoms this year. “With our extensive experience of providing administration and member technology solutions to Trustees of DC pension schemes, we believe M.A.G will be well placed to address the ongoing pensions reforms,” he said.
This agreement further extends Buck Consultants’ relationship with M.A.G, having already been appointed in 2013 to provide actuarial, general consulting, investment consulting and pensions administration services to both the M.A.G (STAL) Pension Scheme and also the E.M.I.A. Pension Scheme.
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