Bulk annuity administration

As one of the largest third party specialist bulk purchase annuity administrators in the UK, we’re a safe pair of hands to take on the administration of BPA for insurers, including the secure and seamless migration of all data.

Providing certainty to your policyholders with a trusted administration partner

Trustees of defined benefit (DB) pension schemes face a number of challenges to ensure a scheme has sufficient assets to meet the promises made to its members – inflation risk, volatile investment markets and improvements in life expectancy can all place enormous strain both on a scheme’s finances and on the sponsoring employer’s balance sheet.

With pensions debt and the cost of running pension schemes coming into sharper focus, many trustees are turning to the bulk purchase annuity (BPA) market as a vehicle for insuring well-funded schemes against these key risks. The aim for a trustee in this regard is to fully ‘buy out’ each member’s pension entitlement with an insurer who, in return for a premium from the trustee, takes on the responsibility for paying pensions throughout the life of the members.

With the market highly competitive for BPA providers, we know that many wish to focus on their core business strategy.

That’s why we provide trusted and expert third party administration, managing the ongoing and often complex administration for their BPA policyholders efficiently and cost-effectively. We provide the necessary scale and experience to support insurers as they continue to write new business in this market.

Read about our renewal with Pensions Insurance Corporation

Why Capita?

01

Scale

We’re one of the largest BPA specialist third party administrators in the UK, with an established flagship service centre in Darlington and strategic partnerships with a number of leading BPA insurers. 

02

Experts in all types of pension schemes

We’re pensions experts, trusted by our clients to administer schemes of all shapes and sizes.

03

A safe pair of hands for data migration

With unparalleled transition experience in transferring scheme data to our own service environment securely and seamlessly, we’re experts in migrating data from all the popular pension administration systems and from many of the lesser known platforms too.

04

The latest automated technology

Our modern, integrated and highly automated technology, based on our ‘best in class’ software administration solutions, supports accurate and efficient administration and is continually developed to meet the evolving needs of our clients.

05

Entire back-book administration

We can take on the administration for entire insurer back-books if they elect to exit the market, as well as administering the re-insurance book.

06

A trusted partner

We currently administer pension schemes on behalf of some 500 clients, looking after 4.8 million members across schemes of all types, including BPA books.

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