Electricity Supply has appointed Capita Hartshead to provide central administration services for its pension scheme.
From 9 January 2012, the pension provider will take over the functions currently provided by Electricity Pensions Services. It will be responsible for overseeing all the central activities required to run the the pension scheme, including liaising with advisers, other service providers, and the scheme's 23 employer groups.
Under the contract, which runs for 10 years, it is planned that eight existing Electricity Pensions Services' staff will transfer across to Capita Hartshead.
Richard Aitken-Davies, chairman of Electricity Pensions, said: “Running the Electricity Supply pension scheme is a demanding task and Electricity Pensions Services 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 accounting and secretariat standards and good governance."
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