Jardine Lloyd Thompson (JLT), the employee benefits consultancy, has been appointed to provide outsourced third-party pension administration services to Tibbett & Britten Group.
The logistics and supply chain management company has a final salary scheme with around 15,000 members, made up of 6,000 employed members, 6,500 deferred and 2,500 pensioners. Tibbett & Britten said that the outsourcing agreement would allow the company to focus more on member communication and policy issues. As part of the arrangement, some of Tibbett & Britten's in-house pensions team are expected to become JLT employees and relocate to London.