June 2025
Procentia is pleased to announce its new partnership with Royal London to support the mutual’s Bulk Purchase Annuity (BPA) scheme administration.
Royal London Group is the largest mutual life, pensions and investment company in the UK[1] with assets under management of £173 billion and 8.7 million policies in force. It has selected Procentia’s pensions administration and management system, IntelliPen, to support BPA service delivery following a buy-in.
Our online platform is automating buy-in and buyout pension calculations, payments to scheme trustees and their members, movement processing, and payroll. IntelliPen’s scalability and configurability means Royal London has greater agility in responding to the often-complex needs of its Pension Risk Transfer transactions.
The collaboration demonstrates Royal London’s commitment to ensure all BPA calculations, payments and records are in place at the earliest opportunity to enhance customer experiences, and to its robust risk management controls. Procentia is helping the mutual evolve service delivery for its members’ retirement by putting schemes in the best position to move quickly to buyout following data cleansing and finalisation.
Costas Yiasoumi, Royal London’s Head of BPA Operations, says:
“We’re pleased to be working with Procentia. Trustees are highly focused on future member experience when selecting a bulk annuity insurer for their members. The IntelliPen administration platform complements Royal London’s in-house team so that we meet and exceed expectations.”
“Scheme trustees have already entrusted the future financial resilience of their members with Royal London through twelve buy-in transactions. We look forward to welcoming further schemes in the future.”
Liam McGrath, Procentia’s Group CEO, says:
“This partnership marks an exciting chapter for Procentia as we move further into the dynamic Pension Risk Transfer space. As a purpose-driven company, Royal London focuses on ‘delivering positive, enduring change’ for members and customers, a vision that aligns with our own.”
“We’re not simply supplying a software solution. We’re proud to be part of Royal London’s journey and provide a platform that helps its policy holders make the most of their investment and retirement planning for a better future.”
— ENDS —
About Royal London Group
Royal London is the largest mutual life, pensions and investment company in the UK, and in the top 30 mutuals globally*, with assets under management of £173 billion, 8.7 million policies in force and over 4,500 employees. Figures quoted are as of 31 December 2024.
[1] Based on total 2022 premium income. ICMIF Global 500, 2024
Press Contacts:
Procentia
Allie Taylor, Group Head of Marketing & Communications
+44 (0)117 332 7800
Royal London
Nicki Parry, PR Manager:
nicki.parry@royallondon.com / +44 (0)7919 170 043