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26
Aug
2022
Link Group to acquire HS Pensions to drive new era in member engagement
August 26 2022 - Link Group, the global leader in pension solutions, today signed an agreement to acquire HS Pensions, as part of its ambition to simplify and improve the member experience in the UK retirement solutions and pensions sector.
HS Pensions is a deeply experienced UK pensions administrator, with a respected position in both Defined Contribution (DC) and Defined Benefits (DB) and with longstanding client relationships.
The acquisition will deliver immediate capabilities for Link Group’s Retirement & Superannuation Solutions division in core pension administration and a platform for the firm’s unique member-centric engagement technology.
HS Pensions administers pensions for around 370,000 members and has an established team of experts delivering an end-to-end pension service. Its deep knowledge, service orientation and joint DC/DB capabilities are strongly aligned to Link Group’s strategy to grow its UK business by focusing on simplifying and improving member engagement and experience by providing leading technology for clients.
The transaction is expected to be completed in the second half of 2022. Once completed, HS Pensions will integrate with Link Group’s UK Retirement & Superannuation Solutions business. Combined, the businesses will service approximately 1.5m members with AUM (assets under management) of over £4bn and employ approximately 200 people.
Dee McGrath, Chief Executive Officer of Link Group Retirement & Superannuation Solutions commented:“Our commitment to the UK pensions sector is underpinned by our investment in building our capability, technology and platform to service clients and by bringing our global experience from a proven, successful Australian business to the UK. This transaction accelerates that vision and will see two high-quality businesses integrated to simplify and improve the member experience in the UK, with significant potential for growth.”
Richard Wilson General Manager of Retirement & Superannuation Solutions UK states:“This is a very exciting opportunity for Link Group, HS Pensions, our collective teams and clients. Together with HS Pensions, we will provide a best-in-class DC and DB proposition to clients from our deep capability and great team, from our enhanced infrastructure and through a diversified client base. Our joint capability will enable us to support the future developments in collective defined contribution schemes too, in what will be a transformative period for the UK pension industry.”
Steve Goddard, CEO of HS Pensions said:“We’re delighted to have agreed this deal, which reflects very positively on the quality of the HS Pensions business and our team. We believe it’s very good news for our clients and people as it will facilitate the ongoing growth of the business while also providing Link Group with the opportunity to accelerate its UK growth plans and deliver on its ambition to modernise the member experience and wider pensions industry.”
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Link Group is a trading name of Link Market Services Trustees Limited which is authorised and regulated by the Financial Conduct Authority and which is also authorised to conduct cross-border business within the EEA under the provisions of the EU Markets in Financial Instruments Directive.
