Mercer has replaced Standard Life with Aegon on its workplace savings preferred provider panel.
Aegon joins Friends Life and Zurich on the panel which has around £3.6bn assets from 90 corporate and trustee clients.
Mercer says “differing priorities” with Standard were the driver for the change.
Standard had been part of the panel since the launch of Mercer Workplace Savings in February 2011.
Mercer has refused to disclose whether its workplace savings clients currently with Standard will be transferred to another provider on the panel.
A Mercer spokesman says: “Following discussions between Mercer and Standard Life earlier this year, a decision was taken that Standard Life will no longer be a Mercer Workplace Savings partner. This was due to the differing priorities of each of our businesses.
“Mercer and Standard Life’s long standing relationship continues and we are working together to support any Mercer Workplace Savings clients affected by this change.”
Aegon workplace solutions managing director Angela-Seymour Jackson says: “MWS has already been highly successful and we look forward to playing a significant role in this partnership going forwards”