Southwark Council has signed to used Civica’s Universal Pensions Management software to run its pension fund.
They have agreed on a five-year, £1.5 million deal for the use of the platform along with Civica’s Pension Payroll. This will provide an integrated solution that the company said will ensure data accuracy and remove pressure on the council’s payroll system.
It added that the software will support the introduction of automation and self-service capabilities for Southwark Pension Fund, which had over 25,000 members and £1.64 billion in assets as at 31 March 2019.
Peter Hughes, deputy pensions manager at Southwark Council said: “The new Civica platform will give us all the tools to provide a much improved service to our members, employers and stakeholders such as the Local Pension Board. The platform will help future proof our digital systems and we will also benefit from longer term cost savings of around 40% in cloud deployment and support.”
Image from iStock, Amanda Lewis
