Spence & Partners has launched a new stand-alone Pension Outsourced Data Service (PODS).

PODS is an automation-led solution for defined benefit pension schemes with between 2,500 and 25,000 members. It aims to provide a range of services including data checking, data improvement, benefit audits, benefit rectification, GMP rectification and equalisation. The service is designed to bring additional capacity to the market, particularly to schemes with a strong timebound need for services, such as for part of a risk transfer project or corporate restructuring.

Pension fintech Jarvis has raised £1.8m in seed funding in a round co-led by Ascension VC and Cornerstone VC, with participation from Tokio Marine Future Fund.

Jarvis is a fintech that seeks to support employees in planning for their ideal retirement actively. It stated that the investment will support growth and product development as it looks to integrate with the broader ecosystem of pension-related services. Jarvis seeks to offer a retirement planning solution through two main components: the Jarvis Pension and an app. For employers, it aims to provide a financial wellness solution, including an auto-enrolment workplace pension designed for the modern workforce.

Local Government Pension Scheme (LGPS) Central has confirmed the appointment of Longview Partners as an additional fourth manager in its Global Equity Active Multi-Manager ACS Sub-fund.

Initially launched in March 2019, the ACS sub-fund has the commitment of six out of the eight of LGPS Central’s partner funds. The recent procurement process aimed to identify a manager that employs a fundamental approach to investing with a quality factor bias and a “proven track record”. Longview has joined the existing managers - Harris, Schroders, and Union – as a fourth manager of the sub-fund. The sub-fund's performance will continue to be benchmarked against the FTSE All-World Index (GBP), with its primary objective being to outperform the FTSE All-World Index over rolling five-year period. The fund is in excess of £3.5bn of assets under management.

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