Spilled milk for HS Admin over UK fund
UK - The £340m (€428m) UK Milk Pension Fund, the multi-employer defined benefit scheme sponsored by employers in the UK dairy industry, has replaced its administrator HS Admin and tapped Aon Consulting.
Richard Thornton, secretary to the trustee for the Milk Pension Fund, said this morning in a written statement the appointment was made following a tendering exercise.
Aon, which was earlier re-appointed as the fund's actuarial and investment adviser - a role the firm has been carrying out for more than 20 years - will now also provide pension scheme administration services.
The mandate is Aon's first business win since relaunching its administration services last month, and which saw the creation of a new client relationship management unit.
HS Admin is a Cheshire-based third-party administration provider, part of insurance giant Aegon's UK operations.
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