Hertfordshire County Council has appointed the London Pensions Fund Authority (LPFA) to look after pensions administration and payroll.
The contract, expected to make savings of £1.6 million over eight years, covers both the Local Government Pension Scheme (LGPS) and Hertfordshire Fire and Rescue Services pension schemes.
Mike Taylor, chief executive of LPFA, said: “The success in winning Hertfordshire County Council indicates that boroughs and county councils are looking for pensions specialists when they consider outsourcing.
“Online pensions systems, similar to online banking, are the way forward. Let’s allow the members themselves to undertake some of the administration tasks. Many of us no longer go to the bank to pay bills, so why shouldn’t we be able to manage changes online?”
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