UK – At least five internal pension administration jobs are on the line as the British Waterways Pension Scheme outsources to Capita Hartshead.
Pensions manager Steven Cole told IPE that four staff have already gone from the £190m (€280.5m) scheme and that another was set to go – leaving a department of one.
Capita has been winning administration outsourcing business recently at firms such as Thames Water and Safeway – with each transaction involving the loss of jobs at client firms.
Cole said the scheme was advised by Dunnett Shaw and looked at four bids, with Capita’s the cheapest. He declined to say how much the contract was worth.
The defined benefit scheme has a membership of more than 5,000. The three-year contract will be administered from Capita Hartshead’s Sheffield head office.
British Waterways is responsible for the maintenance and management of over 2,000 miles of canals and rivers across the UK and supports over 300m visits from the public every year.
“We are absolutely delighted to have been chosen by British Waterways,” said Capita Hartshead’s managing director Mike Addenbrooke in a statement.
“We now look forward to providing a first class service to the scheme members and to establishing an excellent relationship with the trustees and employer going forward into the future.”
Cole was quoted as saying: “The trustees decided that the pensions administration would be more effectively undertaken by a specialist administration company.
“We believe that Capita Hartshead will provide an improved service to our members.”