RailPen pushes into non-railway administration

UK - RPMI, the third-party administrator set up by the £17bn (€25bn) Railways Pension Scheme (RailPen), are about to take on the fund administration for two major UK pension schemes, IPE has learnt.

A spokesman for the firm told IPE tenders with two major UK, non-railway, pension schemes were in the pipeline.

He declined to name the pension funds but the deals are expected to be closed within the next few weeks.

The company, which is London and Darlington-based, already does third-party administration for the Network Rail defined contribution (DC) scheme, but is keen to expand its business beyond railway clients.

This news comes at the same time as Railpen Investments and Pensions Management, the companies behind RailPen, officially unveiled RPMI as their new corporate brand in their London office.

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