We use cookies to improve site performance and enhance your user experience. If you'd like to disable cookies on this device, please see our cookie management page.
If you close this message or continue to use this site, you consent to our use of cookies on this devise in accordance with our cookie policy, unless you disable them.

Close
In association with

Home > Pensions > Personal Pensions

‘Pensions platform’ to launch for private funds

After the initial selection process of asset managers, pension schemes will be invited to use platform from November 2012.

By Donia O'Loughlin | Published Aug 23, 2012 | comments

The Pension Fund Service is set to launch a ‘pensions platform’ in September, which it says will save private sector pension funds money on their consultancy and asset management fees while being time-efficient for funds.

Pension schemes will be able to select an asset manager from the platform panel rather than having to go through a time consuming manager search.

In terms of cost savings, the service could save Pension Funds up to 85 per cent, compared to a typical manager search, the Pension Fund Service claims.

The platform will be launched via OJEU, Mandatewire, IPE-Quest and iiSEARCHES in early September, with asset managers being invited to register for the selection process.

“Super investment mandates” on all asset classes will be open to private sector pension schemes, which have responsibility for billions of pounds, the Pension Fund Service said.

After the initial selection process of asset managers, pension schemes will be invited to use the platform from November 2012.

Chris Southworth, chief executive of the Pension Fund Service, said: “Having seen local authority pension funds work together and create framework agreements, we decided to find a solution for private pension schemes.

“We have had strong interest from major private sector schemes to create super mandates for them on a wide range of asset classes. The pension schemes stay independent of each other, however benefit from being together on the platform.”

The Pension Fund Service currently has 480 pension scheme members.

visible-status-Standard story-url-FTA pensionsplatform 220812 DO.xml

COMMENT AND REACTION
Most Popular
More on FTAdviser
FTA jobs