The trustee of the National Grid Electricity Group of the Electricity Supply Pension System (NGE Group) has appointed Barnett Waddingham (BW) to support its pension scheme.
The NGE Group, which has net assets of over £3bn and over 8,500 members, has chosen BW to provide several services to help the trustees who are currently being phased in.
The present in-house trustee executive and member engagement functions were shifted to BW at the beginning of March and this appointment includes professional services supporting actuarial, investment and IRM strategy.
The company will have access to BW experts in all essential areas, including communications and risk management through a multi-disciplinary delivery model intended to fit NGE Group’s specific needs. NGE Group’s support staff will be based mostly in the company’s Longbridge headquarters.
BW partner Paul Jayson says: “This high-profile appointment is testament to the high-quality work consistently produced by the team at BW. The principles and ethos we share with NGE Group give us the ability to deeply engage and build tailored services creatively designed to improve member outcomes. Together we will help manage the scheme efficiently and effectively as it plans its future direction for the benefit of every member.
“We have built a market-leading Pension Executive team with expertise across the whole range of relevant disciplines who will work collaboratively with the trustees and the scheme’s advisors, having the members’ interests at the heart of everything we do.”
National Grid Electricity Group chair Jon Carlton says: “The team at BW has impressed us throughout the tendering process. Their collaborative approach to working with the Group Trustee and mix of team members with the right experience and attitude to their work will be truly beneficial to the scheme and our members.
“The Group Trustee, supported by Cosan Consulting, took a comprehensive look at the services we required. The team at BW took the time to totally understand what we wanted and worked with us to create a bespoke service with the scheme’s specific characteristics at its heart. Our objectives were considered at every opportunity, building a true partnership.”
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