Marvin OnumonuCheviot has unveiled a new operational and investment model for its defined benefit (DB) and defined contribution (DC) pension schemes.
The refreshed approach has been developed with Spence & Partners and Van Lanschot Kempen (VLK), aiming to meet changing demands in pensions, manage costs, and support Government calls for consolidation and better governance.
Spence & Partners has been appointed as administrator for all Cheviot schemes.
This follows the 2024 appointment of VLK as fiduciary manager.
Both firms will support Cheviot in providing a scalable solution for schemes of various sizes.
Cheviot’s new model offers direct access to real-time data and funding updates using Spence’s Mantle technology, improves reporting, and aims to reduce the management burden on trustees and sponsors.
It provides clear routes for buy-in, buy-out, or ongoing scheme management, with various governance options.
Elspeth McKinnon, CEO and co-opted director of Cheviot Trustees, said: “Our new model gives schemes access to an efficient and specialist pensions arrangement that provides an end to end solution for all aspects of pension delivery.
“We achieve this by leveraging scale, high quality governance and appointing award-winning partners for Investment and Administration.
“Our approach reduces risk and costs and takes governance off the table, whilst delivering on a scheme’s long term scheme objectives.”
Alan Collins, managing director at Spence & Partners, said: “We are thrilled to be appointed as pensions administration provider for the Cheviot Trust and to welcome their staff that will be joining us.
“As an authorised Master Trust with defined contribution and defined benefit sections, Cheviot has ambitious growth plans in the operational consolidation market that we are excited to be supporting.
“At Spence, we have developed a smarter approach that re-imagines how pensions are delivered leveraging the unique Mantle® technology that we use to provide the Cheviot Trust’s members a highly digitised service across their DB and DC pension savings, whilst also making liability cashflows and data available to the Trust’s other advisers.”
Arif Saad, executive director at VLK, said: “Van Lanschot Kempen is excited to partner with Cheviot Trust and Spence & Partners to offer integrated investment, administration and governance services.
“This collaboration with an authorised DB and DC master trust has the ambition to offer members, trustees and sponsoring employers market leading services.
“Van Lanschot Kempen with its longstanding track record in fiduciary management and sustainability credentials is the investment engine for this innovative offering.”
