The London Borough of Hammersmith and Fulham, and the London Borough of Brent have collaborated on a framework agreement to appoint a single pension administration provider.
Under the agreement, other London boroughs can join the framework and appoint Capita Hartshead as their pensions administrator without needing to go through the public sector procurement process.
The contract, which is effective from 1 October and runs for four years, brings administration services to the two boroughs 31,000 employees.
Stephen Greenhalgh, councillor for Hammersmith and Fulham, said: “This is about maximising value for money for the taxpayer by doing everything possible to reduce our pension administration costs.
“We will also be working with them on their communications to increase member engagement, introducing member websites and onsite monthly pension surgeries.”
Steve Birks, director of operations at Capita Hartshead, added: “This is a time of great change for public sector pensions, so as well as providing administration services, we will be advising the two boroughs on the impact of these changes.
“We will also be working with them on their communications to increase member engagement, introducing member websites and onsite monthly pension surgeries.”
Read more articles on public sector pensions