Spence & Partners, the UK pensions actuaries and administration specialists, scooped their second award of the year last night at the European Pensions Awards 2015. The company was awarded the Pension Scheme Administrator of the Year title for their ‘Spence approach’* for defined benefit (DB) pension schemes at a prestigious ceremony at London’s Grosvenor House Hotel.
Spence were judged against their peers by a panel made up of professionals from across the European pensions sphere, including providers, pension funds, consultants and representatives from various European pensions and investment associations
Brian Spence, CEO of Spence and Partners, commented: “We recognised some time ago that pension schemes are no longer working to an indefinite time horizon and needed new and innovative solutions to help them, so we developed our services accordingly. To say we are thrilled to receive this award, our first for administration, is an understatement. We are incredibly proud of the service and have worked hard to carve our niche in this market so to be recognised by such influential and expert industry colleagues from across Europe, against such stiff competition, is a fantastic acknowledgement of the hard work and dedication of our team in putting it together.
“We are committed to the DB pensions market and truly believe in the best possible outcome for members. Our approach, with our robust systems and procedures, has revolutionised the way schemes are run, giving them access to the kind of analysis and advice that were previously reserved for only the largest of schemes, empowering trustees and employers with the right information to make the kind of real time decision s that will have a positive impact on both their scheme and members alike.”
This award follows Spence & Partners’ success with the Consulting Innovation of the Year award at the 2015 UK Pensions awards in May, again for ‘Spence approach’.
*The Spence approach combines cutting edge technology with tailored expert advice all run from a single platform, giving both trustees and employers automated daily administration and actuarial calculations (meaning there is no longer a need to migrate data from one system to another), real time reporting, a clear and closely monitored funding and investment strategy for a known, fix ed fee. Thirty schemes are already signed up to the ‘Spence approach’, with more currently in transition.