The Polestar Pension Scheme has appointed Mercer to provide administration services.
The printing firm’s defined benefit pension scheme has been closed to new members since April 2003, and has over 8,600 pensioners and deferred members.
Jill Carruthers, a principal at Mercer and client relationship manager for the Polestar Pension Scheme, said: “The scheme is among a growing number of closed schemes now outsourced to external administrators.
“The benefits of this move include long-term cost savings and efficiencies from using a specialist provider, and the ongoing investment in staff training, online member communications and specialist administration systems.”
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