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Personal accounts administrator should be chosen after election

Barnett Waddingham has called for negotiations over who will be the future scheme administrator for personal accounts to be postponed until after the election now that there is only one contender left in the race.

Great-West Retirement Services yesterday pulled out of the competitive tender process for scheme administration services, leaving only Tata Consultancy Services as a contender.

Logica UK withdrew from the competitive dialogue process for the contract to administer personal accounts in November.

Logica was bidding as a consortium which included International Financial Data Services and DST Systems.

In October, Money Marketing revealed that Danish admin provider Arbejdsmarkedet Tillaegspension or ATP had withdrawn from the running for the contract to administer the scheme.

Barnett Waddingham partner Clive Grimley says: “We have previously seen a two horse race in this bid for scheme administration services. Following the departure of Great-West Retirement Services (Europe) Ltd from the process we are left with one remaining prospective supplier as the only contender, making it difficult to negotiate good terms.

“In my view this matter should be put on hold until a new government is elected and when negotiations and prospective suppliers can be reconsidered.”

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  1. Eeny meeny miney moe, not much of a choice is it?

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