TEL employees will also transfer to LCP under TUPE, and form part of the ongoing team, ensuring a seamless continuation of service
The trustee for the National Grid UK Pension Scheme has outsourced its provision of executive, governance and risk management services to LCP.
The move means that the services previously provided by the NGUKPS Trustee Executive Limited now delivered by a team from LCP’s pension management consulting department, led by LCP partners, Jonathan Camfield and Rachika Cooray.
TEL employees will also transfer to LCP under TUPE, and form part of the ongoing team, ensuring a seamless continuation of service.
The appointment is expected to provide continuity of service for the trustee, ensuring that the extensive experience, knowledge and expertise of the current TEL employees continues to be readily available to the trustee.
It also set to provide flexibility and robustness as the needs of the scheme and trustee continue to evolve in the future.
National Grid UK Pension Scheme chair, Chris Martin, said: LCP have impressed us with their commitment to the trustee and to our employees and we are delighted to have chosen them as our partner to support us in this next phase of the scheme’s journey.
We are very grateful to our in-house team for the excellent support they have provided to the trustee over the years, he added.
LCP partner, Jonathan Camfield, added: We are delighted to be welcoming the team from the National Grid UK Pension Scheme Trustee Executive to LCP.
This is a forward-thinking and innovative development from the trustee to ensure their executive and governance services are future-proofed and that the talent of their team can be protected and developed, he added.