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Pada shortlists four to run personal accounts

The Personal Accounts Delivery Authority has drawn up a shortlist of four suppliers to administer personal accounts.

This week’s Money Marketing reveals a consortium comprising Logica UK, International Financial Data Services and DST Systems is up against Tata Consultancy Services, Danish firm Arbejdsmarkedet Tillaegspension (ATP) and a team including Great West Retirement Services and Canada Life Group UK.

Pada will not say how many groups bid for the contract. The shortlist now moves to the competitive dialogue phase, with the successful bidder unlikely to be announced before summer 2010.

Standard Life head of pensions research John Lawson says: “There are tons of complications administering UK pensions but Logica and IFDS seem to be the only firms with any expertise in this area.

“I would have expected to see the likes of Capita, Vertex and even Xafinity. They have the skills in the UK and the fact none are on the list presents a big, big risk.”

A Pada spokeswoman says: “Pada’s priority has been to identify suppliers with experience of running very large-scale defined-contribution pension arrangements. We are confident our bidders are building on internal expertise relevant to the specifics of this projecs and bringing additional skills where required.”

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