Railpen sells third-party pension administration business to Broadstone

The decision follows a strategic review of the evolving defined benefit (DB) pensions landscape. As schemes increasingly seek scale and specialist capabilities, Railpen identified Broadstone as the ideal partner to continue delivering high-quality administration services to its valued TPA clients and members.
 
The TPA business being transferred covers over 20 pension schemes, representing the retirement savings of more than 110,000 members across the UK.
 
Andy Bord, Chief Executive Officer at Railpen said, “We are proud of our achievements as a third-party administration provider. In Broadstone we have found a partner that provides a continued commitment to the highest levels of service to members and a strong client-partnership model.” 

Railpen’s TPA employees will transfer to Broadstone under TUPE, ensuring continuity of service and expertise.
 
Commenting on the acquisition, Tony Gusmao, Broadstone’s CEO, said: “We are delighted to welcome Railpen’s TPA clients and quality team to Broadstone. This acquisition further strengthens our position in the administration market and aligns with our growth strategy, by securing great talent and large respected clients. We look forward to supporting them with our full-service proposition and continued investment in innovation.”
 
The £34bn railways pension schemes operated by Railpen remain unaffected by the sale.