Logica, a business and technology service company, currently operates one of the highest profile defined contribution (DC) pension schemes in the UK, with some 8,000 members, 3,300 of whom are active employees.
Standard Life has been appointed to provide the savings and retirement programme following a comprehensive review of existing arrangements by Logica and their advisers, both of the defined benefit (DB) and DC schemes they currently have in place.
The Logica savings and retirement programme will be available for 5,300 employees eligible to join from May.
Employees will be able to choose to maintain pension scheme investment strategies similar to those currently available, to simplify the initial transition to the new plan, or they can choose from a wide range of investment funds via the Group Sipp.
Standard Life Investments' Global Absolute Return Strategies fund will form a core aspect of the new Lifestyle funds.
Andrew Dickson, senior business development manager at Standard Life Corporate Solutions, said: "Standard Life has a competitive edge in the corporate benefits and pensions market which has been acknowledged by Logica.
"The Savings and Retirement Programme will deliver a blend of innovation, service and quality which matches the requirement of Logica to introduce a cost effective, flexible and compelling benefits programme to employees.
"Logica looked for a provider who can provide the right level of support to employees from entry to the programme through to retirement."
Dennis Bell, manager of UK compensation and benefits at Logica UK, added: "Logica is keen to develop a flexible approach to pension provision which will attract participation of our younger employees through greater integration of pensions with our flexible benefits and home purchase programmes.
"Using Standard Life's experience and future development proposals, we want to bring pensions to life by enabling the variation of contribution levels on an annual basis alongside flexible benefit spend decisions for the coming year.
"We are also keen to increase support to our employees with respect to investment and retirement planning through regular education opportunities provided by Standard Life's communication and education team."
