Link Group has completed the acquisition of HS Pensions in the UK.
Link Group says the acquisition fits into its desire and commitment to streamline and enhance the member experience and engagement in the UK retirement solutions and pensions market.
The firm says the acquisition provides fundamental pension administration capabilities for Link Group’s Retirement & Superannuation Solutions division, as well as a foundation for the company’s distinctive member-centric engagement technology.
The UK’s HS Pensions is a defined contribution (DC) and defined benefit (DB) pensions administrator.
HS Pensions provides an end-to-end pension solution while managing the pensions for about 370,000 members. Its extensive expertise, focus on providing excellent customer service, and joint DC/DB capabilities are closely aligned with Link Group’s strategy to expand its UK business by emphasising simplification and improving member engagement and experience through offering cutting-edge technology to clients.
Incorporated with Link Group’s UK Retirement & Superannuation Solutions division, HS Pensions and RSS will work with over 1.5 million members, administer over £4 bn in assets, and employ almost 200 people.
Link Group general manager of retirement & superannuation solutions UK states Richard Wilson says: “This is a very exciting opportunity for Link Group, HS Pensions, our collective teams and clients. Together with HS Pensions, we will provide a best-in-class DC and DB proposition to clients from our deep capability and great team, from our enhanced infrastructure and through a diversified client base. Our joint capability will enable us to support the future developments in collective defined contribution schemes too, in what will be a transformative period for the UK pension industry.”
HS Pensions CEO Steve Goddard says: “We’re delighted to have agreed this deal, which reflects very positively on the quality of the HS Pensions business and our team. We believe it’s very good news for our clients and people as it will facilitate the ongoing growth of the business while also providing Link Group with the opportunity to accelerate its UK growth plans and deliver on its ambition to modernise the member experience and wider pensions industry.”