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LONDON - XPS Pensions Group plc has been appointed to provide administration services for the Metropolitan Police Service's Police Pension Scheme, according to a press release statement issued Wednesday. The appointment, subject to contract, is for a term exceeding seven years and was awarded following a competitive tendering process.
The pension scheme, which has more than 80,000 members, will become XPS's largest public sector administration client. XPS will deliver these services as part of a wider consortium led by DXC Technology.
The company currently provides pensions administration services to over 1.2 million members and has more than 47 years of experience in the sector. XPS noted that the appointment follows its previous work delivering the McCloud Remedy for over 38,000 members across 33 Police Forces in the UK.
David Watkins, Managing Director of XPS Administration, said: "This award further strengthens our position as the leading administrator of police pensions across England and Wales. Our long-standing expertise and deep subject-matter knowledge were key factors recognized during the tender process."
XPS Pensions Group, a FTSE 250 company, serves over 1,400 pension schemes and their sponsoring employers. The firm provides administration services for over one million members and advisory services to schemes of various sizes, including 83 with assets over £1 billion.
The press release noted that XPS has made significant financial investments in technology to create its administration platform, Aurora, demonstrating its long-term commitment to the administration market.
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