Link Group has announced that it is entering the UK pensions industry with the launch of a digital-first solution for the defined contribution (DC) and master trust administration market.

The front-to-back office solution aims to help drive down costs and put member engagement “at the heart of pension”, whilst also delivering on Link Group’s purpose of connecting savers with their assets.

It will combine automated, cost-efficient, scaled processes with data analytics and platform capabilities, in an effort to remove complexity and allow providers to focus on member engagement and member experience.

Link Group currently already supports close to one million members in the UK, with plans to further expand this over the next financial year

It also has 20 years of experience from the Australian market as a superannuation solutions provider, with one in three pension scheme members in Australia supported by Link Group on behalf of its clients.

Link Group’s UK Retirement Solutions business general manager, Richard Wilson, emphasised that the company is "looking forward to bringing Link Group’s scale and track record as a leader in servicing pension funds in Australia to the UK".

He continued: “Link Group has been at the heart of modernising the superannuation (pensions) industry in Australia and we are delighted to now bring this expertise, technology and solutions capability to the UK.

“The UK pension market continues to see significant change and consolidation at multiple levels and bears many characteristics and similarities to the Australian market.

“With the success of auto-enrolment, master trusts are now facing trends of increasing consolidation with pressure to simplify and improve member experience, all of which can benefit from the technology-led solutions and robust, scaled solutions that Link Group brings."

Wilson also argued that the UK pensions administration market, in particular, has been "under-invested", which has in turn eroded margin and the ability for companies to invest in solutions that really engage people in saving for their retirement.

"We want to change all that," he said. “Over the coming months, we’ll be demonstrating the value of efficient processing, coupled with sophisticated analytical capability in driving member engagement and ultimately loyalty - all of which is vital to encourage a more active approach to pension saving.”

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