Aegon UK, parent company of Scottish Equitable, has acquired third party pension scheme administrato...
Aegon UK, parent company of Scottish Equitable, has acquired third party pension scheme administrator HS Administration Services, for an undisclosed amount.
HS Administration Services, based in Chester, has been in operation since 1984 and currently employs 100 staff. Its core business is the third party administration of final salary schemes and money purchase schemes with typically more than 1,000 members.
The service also features pension accounting services, financial services and a pensioner payroll facility.
The service is to continue operating under its own name and will have a separate board within Aegon UK.
David Henderson, group chief executive of Aegon UK, said: "The acquisition of HS adds further scope to our existing business capability and overall market offering. Its skills in administering large pension schemes will open the door to new business opportunities."
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