Tyne & Wear, Teesside to create admin “centre of excellence”

The two Local Government Pension Schemes (LGPS) – which cater for more than 270,000 members between them – will create a “centre of excellence” for pensions administration based in South Shields.

Tyne & Wear was awarded an administration contract for the Teesside scheme following a competitive tender. The new partnership, which will employ 120 people, will begin operations next year and will be one of the largest administration offices in the LGPS.

John Kabuye, chair of the Teesside Pension Fund committee at Middlesbrough Council, said the committee was impressed by Tyne & Wear’s “vision and their focus on serving members”.

Ken Dawes, chair of the Tyne & Wear pensions committee at South Tyneside Council, added: “This highlights the high-quality capabilities the public sector can deliver, and is a major boost to the northeast region.

“The expanded services deepen our capability and capacity, and this is an excellent outcome for both pension funds as well as being a progressive development for our respective members and employers.”

Between them, Teesside and Tyne & Wear manage £19 billion of investments and are both members of the Border to Coast Pensions Partnership.