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Hogg Robinson wins first outsourcing of annuity payments

Hogg Robinson subsidiary Paymaster has won a ten year contract from CGU to provide an annuity payments service to some 100,000 pensioners.


This is the first time an insurance company has outsourced the annuity payments function.


Paymaster manager director Jim Kelly says: &#34Our new annuity payment service is a natural extension to our established pensions payroll activity.&#34


Hogg Robinson chief executive David Radcliffe says: &#34We are very pleased to secure this relationship with CGU, which demonstrates the benefits of our acquisition of the remaining 70 per cent of Paymaster in August and our strategic decision to invest in a dedicated annuity payments administration service.&#34

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