Oct 2023
Procentia, a leading global pensions software company, has today announced it has been appointed by BA Pensions to provide a single administration software platform for its 85,000 members.
BA Pensions manages all aspects of British Airways’ two final salary pension funds, with combined assets of c.£21 billion.
BA Pensions will be implementing Procentia’s award-winning IntelliPen administration platform to transform the services they provide to their members. This will include the introduction of a secure web-based self-serve portal providing an enhanced range of services that enables members to access and manage their pensions more effectively.
One of the key features is a powerful pension calculator, allowing members to model all the options available to them as they approach retirement. By illustrating members’ pensions at different retirement dates, the platform helps them to make informed decisions about how and when they take their benefits.
BA Pensions will leverage the intellectual capital that Procentia’s parent company, Brightwell, invested in when they successfully implemented the IntelliPen system for the BT Pension Scheme (BTPS) in 2021. BTPS has c.£40bn of assets under management and c.270,000 members.
Vinny Ehzuvan, CEO, BA Pensions, said “We are thrilled to announce our strategic partnership with Procentia. This partnership reinforces our commitment to providing excellent pension services, which is paramount to delivering the right member outcomes using state-of-the-art technology. It will launch a new era of online service and other member contact and communication channels. We want retirement to be easier and more secure than ever for our members.”
Liam McGrath, CEO, Procentia Group, said “By choosing Procentia’s market-leading software, BA Pensions is working to empower its administrative teams and members with the very best in online services. BA will benefit from being able to use some of the workflow designs and member website developed for BTPS that have been proven to deliver cost and time efficiencies.”
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Notes to Editors
About Procentia
Established in 2002, Procentia is a global leader in pension management and administration software. Its proprietary IntelliPen solution services over 2.5 million corporate pension scheme members. Clients include BT, Rolls-Royce, Legal & General, DHL, and BP.
IntelliPen is a powerful web-based platform with fully integrated modular systems that streamlines processes from new member registration to retirement.
The all-in-one solution is highly configurable, providing time and cost efficiencies by automating member enrolment, validation, benefit calculations, reporting and pensioner payroll. Multiple interfaces offer an intuitive and feature-rich self-serve experience for administrators, employers, members and pensioners.
IntelliPen was named ‘The number 1 UK pension administration software’ by Professional Pensions magazine in 2022 and 2023.
Procentia has offices in the UK and the USA.
LinkedIn: www.linkedin.com/company/procentia
About BA Pensions
British Airways Pensions manages all aspects of the airline’s two mature, defined benefit pension schemes, the Airways Pension Scheme (APS) and the New Airways Pension Scheme (NAPS), with combined assets of c.£21 billion and 85,000 members.
About Brightwell
In 2023, BT Pension Scheme Management Limited, (“BTPSM”) the primary service provider to the BT Pension Scheme (BTPS), launched its trading name “Brightwell” in April 2023 to offer its experience and expertise to other defined benefits schemes.
Brightwell has a long history managing services to BTPS, one of the largest private sector pension schemes in the UK and offers funding and fiduciary services from their office in London, and member administration and advisory services from their office in Chesterfield. Brightwell’s approach focusses on collectively owning problems, sharing solutions and collaborating for the long-term.
Press Contacts:
British Airways Pensions
Mark Smith
mark.smith@bapensions.com
+44 (20) 8538 2132
Procentia
Allie Taylor, Group Head of Marketing
+44 (0)117 332 7800