On the go: The circa £45m Leek United Building Society Pension and Assurance Scheme has joined the Enplan Pension Platform, which will provide governance, actuarial, investment and administration services to the scheme.
Enplan is an operational consolidation platform that aims to help employers modernise the running of their legacy defined benefit schemes. It collectively manages a number of schemes with allowing pension funds to benefit from improved cost efficiencies.
Enplan’s core pension services are provided by advisory firm Isio and the platform is governed by independent professional trustee company Entrust Pension.
Rob Broadbent, finance director at Leek United Building Society, said: “As a mutual, our priority is ensuring we can provide the best service and value for our colleagues. We wanted a platform which was easy to join and delivered a smooth transition.”
He continued: “With experience in our sector and a history of innovation, the Enplan team were able to demonstrate clearly how the platform would not only be a more efficient approach to the running of our DB pension scheme, but it would also provide a model of continuous professional governance.”
According to the scheme’s statement of investment principles, prior to joining Enplan, Mercer was both the scheme’s investment adviser and investment manager.
This article originally appeared on MandateWire.com
