Personal Pension  

Santander appoints JLT to operate pension schemes

The director of pensions at Santander UK said JLT would deliver pension administration services for its 100,000 employees across its UK defined contribution and defined benefit schemes, with JLT given exclusive administration rights.

As a result of the arrangement, active, deferred and retired members will be able to manage their pension online, through JLT’s BenPal administrative system, which allows the trustee and company to communicate with individual members through an online portal.

Mr Barker said: “We place a high value on all our colleagues past and present, so take our duty of care of their pension arrangements very seriously.

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“We believe that proper saving for retirement is crucial and we believe the pension management tools provided through BenPal will encourage our members to be better informed about the schemes we offer and much more engaged with their pension planning.”

Mark Wood, chief executive of JLT Employee Benefits, said: “We look forward to working with Santander as the sole provider of all of its DB and DC pension administration requirements, and to developing our partnership further.”