The SEI Master Trust has completed the transfer of its administration to XPS Group.
In an announcement today (13 August), the master trust said 140,000 members had been successfully transferred in a process that completed on 1 July.
XPS’s proprietary administration system Aurora now provides full administration services for the £4bn SEI Master Trust, which was one of the UK’s first commercial master trust providers and includes approximately 207,000 members.
All members of the SEI Master Trust are now on the Aurora platform.
David Snowdon, head of the SEI Master Trust, said: “The successful transition reinforces our decision to appoint XPS as our sole administrator for the SEI Master Trust and our confidence in them as a long-term strategic partner. We’re at the start of our journey together and the developing roadmap ahead looks very exciting.”
The transition was completed on schedule and in under six months, according to SEI, and involved the launch of a new website for existing and transitioning members.
Dave Watkins, managing director of administration at XPS Group, said: “We have delivered this large transition on time, while maintaining a high standard of administration for the existing membership. We extend a warm welcome to our new colleagues and look forward to our continued relationship with SEI.”
Meanwhile, XPS Group has also introduced a new solution to support auto-enrolment services, which will be offered to its wider client base and potential new clients.
The SEI Master Trust recently appointed Chris Hogg, the former chief executive of the Royal Mail and National Grid pension schemes, to its board of directors.
