Babcock International Group plc (Babcock) has announced a partnership with Aon Hewitt, the global human resource consulting and outsourcing business of Aon Corporation which will see Aon Hewitt introduce a major operational review and change programme to Babcock’s Pensions Administration Office (PAO) in Thurso, Scotland.
The partnership with Aon Hewitt comes as part of a significant investment Babcock is making in its PAO. Babcock and Aon Hewitt aim to grow and develop the PAO to better enable it to attract new clients while enhancing its offering to its existing client base. The investment is designed to secure existing jobs and to create a platform for further new job creation in the Thurso region. A full training and development programme for existing staff will also be implemented and supported.
The PAO is an established provider of high quality pensions administration services. It currently employs 37 people providing administration under contracts which encompass more than 72,000 members. Its main focus is the administration of complex final salary public service schemes, but it has expanded over the last five years to take on the administration of additional schemes including the private sector, DC and CARE structures.
Under the partnership, Aon Hewitt will provide guidance, expertise and experience in the pensions administration field in order to support a programme of change. The announcement of the partnership follows a host of major pensions administration contracts recently secured by Aon Hewitt including BMW and Premier Foods’ RHM pension scheme.
Andrew Birkett, group pensions manager of Babcock said: “The hardworking nature of the Thurso-based team, their track record for providing a good quality service, aided by our partnership with one of the UK’s leading pensions administration providers, gives the business an undisputable platform from which to grow. Babcock is committed to the local area and it is hoped that the drive to expand the business will have the added benefit of creating further opportunities for local employment.”
Stuart Heatley, pension administration practice leader at Aon Hewitt said: “We are delighted to have this opportunity to expand on the work Aon Hewitt already undertakes for Babcock by including its PAO in Thurso. We look forward to introducing a measured programme of transformation in order to build on the high quality service already provided to their existing clients and to scheme members.”