Thales hires Xafinity Paymaster to provide admin services

The win followed a competitive tender process resulting from the trustees' decision to consolidate the administration of the new Thales career-average pension scheme from several providers to one, while enhancing the accessibility of services available to their members via the internet.

Thales UK Pension Scheme secretary to the trustees Philip Cameron said: "Xafinity Paymaster was measurably the best provider following a competitive tendering process.

"We were highly impressed by the breadth and depth of their pensions' expertise, the advanced levels of web access they provide and the quality of their processes. By consolidating our pension administration arrangements into one contract and partnering with Xafinity Paymaster, we are confident that all of our members will benefit from enhanced levels of service and web functionality."

Xafinity Paymaster managing director Paul Bingham said: "Xafinity Paymaster has and continues to make significant investment in its systems, processes and staff and this contract win shows that we are able to offer trustees an affordable combination of leading technology and service delivery, which enable both trustees and members access to up to date information."

This comes after the Thales scheme appointed Cardano to act as its investment adviser in September (PP Online, September 24).