Church of Scotland Pension Schemes Awards Mandate to XPS Pensions Group

Posted on 06/22/2021

After a tender process, the Church of Scotland Pension Schemes awarded XPS Pensions Group plc a mandate to provide actuarial and investment advice. The Church runs three defined benefit pension schemes collectively covering almost 5,000 members including staff, ministers and their dependents and had assets of £524 million as of December 2020.

The Church pension sought to have one firm manage the three schemes.

Graeme Caughey, Chair of the Trustees of the Pension Schemes said in the press release, “The Church of Scotland are delighted to appoint XPS as actuarial and investment adviser. This will serve the Schemes well in their next phase, now that all Schemes and sections are fully funded on a prudent actuarial basis. By completing an open tender for these services the Pension Trustees are implementing the best principles of governance and ensuring the Schemes are managed in the most efficient and cost effective way.”

Alasdair Gill, Partner and Head of XPS Investment in Scotland said, “We are delighted to be working with the Church of Scotland Trustees and their in-house administration team to help them further strengthen the already strong funding position which the Schemes have achieved, and to help the Trustees navigate the new regulations due to come into force under the Pension Schemes Act 2021. We have an expert team who have a strong record of working together and look forward to sharing our insights and working closely with the Church and the Schemes’ Trustees.”

XPS Pensions Group, formerly Xafinity plc, is a United Kingdom-based holding company. XPS Pensions Group is engaged in pensions actuarial, consulting and administration business.

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