MPS is one of the largest defined benefit pension schemes in the UK. It was closed to future accrual in 1994 on?privatisation of the coal industry, meaning all active members became deferred members at that time. It has c.7,000 deferred members and 110,000 pensioners in payment. Each year it pays out c.£700m to former mineworkers and their beneficiaries.
Brightwell will provide a complete pension administration service to MPS. This includes handling of all member processes and contact from Brightwell’s award-winning administration centre based in Chesterfield.
All Brightwell call handlers are qualified pension administrators who have undertaken extensive training to provide members with professional, first-time resolution to their queries. Brightwell will also introduce a new personalised online portal for MPS members that prefer to manage their pension online.
The new administration platform and portal will be hosted on Procentia’s market-leading IntelliPen system which Brightwell introduced for BTPS in 2021.
Morten Nilsson, CEO, Brightwell, said: “We launched Brightwell in April last year and winning this contract demonstrates that there’s real appetite for a more partnership-based approach in the pensions industry.
“For too long pensions administration has suffered from under-investment. Our focus is on providing a high-quality member experience delivered efficiently, underpinned by actionable insights.
“We look forward to leveraging all of our technology and experience to deliver a first-rate service to MPS members for the lifetime of the Scheme.”
Dan Whincup, CEO of Coal Pension Trustees Services said: “After a thorough review of its administration services, I’m delighted to announce that the Trustee of the Mineworkers’ Pension Scheme (MPS) has appointed Brightwell as the Scheme’s next administrator.
“We’ve been particularly impressed with how Brightwell has transformed services for BTPS members. We know that MPS and BTPS share very similar values, and we will work closely with Brightwell to further improve our own services. I’m confident that members will receive the best possible service under the new contract with Brightwell.”
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