UPM chooses Capita Hartshead as single DB/DC admin provider

UPM has appointed Capita Hartshead as administrator for its two pension schemes. 

The schemes have a combined membership of just over 3,500, split approximately two-thirds/one-third between the defined benefit (DB) and defined contribution (DC) schemes.

Girish Menezes, Capita Hartshead business development manager, said: “UPM has two pension schemes, both DB and DC, and wanted to consolidate the administration with a single provider.

“It was clear from early discussions that a one-size-fits-all approach would not work for it. It was also particularly keen that both members and trustees should have web-based access to scheme records.

“To meet its requirements, we have put together a bespoke solution which combines cutting-edge technology, with the expertise of our administration team.”

UPM’s pension schemes will be administered from Capita Hartshead’s Glasgow Office.