XPS Pensions Group appointed as pensions advisory partner to BT Group Plc
XPS Pensions Group Plc is pleased to announce that it has been appointed by BT Group Plc to support their in-house pensions team and advise on actuarial and investment matters and the ongoing evolution of BT's pensions strategy.
BT Group is one of the world's leading communication services companies. The Group has both defined benefit and defined contribution retirement benefit plans, including the BT Pension Scheme, one of the UK's largest occupational pension schemes with 280,000 members and assets of over £50 billon.
Paul Rogers, Pensions Risk Director at BT Group plc said "We wanted to completely reshape the way we work with advisers. We selected XPS following a competitive tender process because they really understood our requirements and offered an innovative and progressive partnership structure. The partnership that XPS will provide will add significant scale and depth of support to BT and further enhance the way we work as a team."
Wayne Segers, Partner at XPS Pensions said "We are thrilled to be able to offer BT a strategic solution that effectively sees XPS become part of the BT in-house team. We are excited to work closely with such an experienced team, in a way that will allow us to better understand the team's culture and goals so that we can add our own innovative approaches. We believe that this structure may become the new normal way of working with in house teams that look after large pension schemes."
Ben Gold, Head of Investments at XPS said "We are delighted that we will be working closely with the BT team. We are excited to be making our in-house research and other systems available to BT, which will both foster a close relationship between our firms and help us to further develop our solutions."
ENDS
For more information please contact:
XPS Pensions Group Plc
Snehal Shah
CFO
+44 (0)20 3978 8626
Camarco
Gordon Poole
Nick Hennis
+44 (0)20 3757 4997
About XPS Pensions Group
XPS Pensions Group (XPS) is the largest pure pensions consultancy in the UK, specialising in actuarial, covenant, investment consulting and administration. XPS combines expertise, insight and technology to address the needs of over 1,500 pension schemes and their sponsoring employers on an ongoing and project basis. We undertake pensions administration for over 948,000 members and provides advisory services to schemes of all sizes including 47 with over £1bn of assets. We also provide pension advisory and administration services to over 200 defined contribution schemes, with over one million members and combined assets in excess of £15bn.
XPS Pensions Group was awarded Actuarial/Pensions Consultancy of the Year and Investment Consultancy of the Year at the 2021 Professional Pensions Awards and highly commended for Third Party Administrator of the Year and Education /Thought Leadership Initiative of the Year. In 2020, XPS was awarded Third Party Administrator of the Year at the UK Pension Awards for the second year running and has also been ranked the No.1 Third Party Administrator in the Professional Pensions Administration Survey in four of the past six years. Also in 2020, XPS Pensions Group was awarded the FT's PIPA Technology Services of the Year Award and in 2019 awarded Actuarial/Pensions Consultancy of the Year at the UK Pensions Awards.
XPS Pensions Group has also been ranked Gold in the Employee Engagement category and Silver in the Employee-Centric Company category at the 2020 UK Employee Experience Awards. XPS Pensions Group also won two awards at the 2020 Business Culture Awards winning Best Business Culture Transformation Initiative and the overall Gold Award winner for Business Culture.
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