Pensions administrator Aptia has acquired Pension Decision Service from Mercer for an undisclosed amount.
It said the deal, for an undisclosed sum, will help to strengthen the guidance and support it offers to pension scheme members.
Pension Decision Service provides personalised, one‑to‑one guidance designed to help members fully understand the retirement options within their pension scheme and the alternative choices available.
Its specialist team focuses on explaining retirement concepts clearly and at a pace that suits each individual, ensuring members are equipped to make informed decisions about their future.
Aptia said the acquisition comes as pension savers remain in the dark about their options, and with retirement decisions more complex than ever, meaning there’s never been a more critical time to provide clear, expert guidance.
Sue Doughty, head of Aptia’s UK pensions administration business, said: “What you do with your pension is one of the most important financial decisions you’ll ever make – and in many cases, once you have made that decision there is no turning back.
“Pension Decision Service brings a level of expertise and care that aligns perfectly with Aptia’s values. This acquisition will enable us to deliver an even more comprehensive service to pension schemes and their members, ensuring they receive the guidance they need when they need it most.”
Aptia provides pension administration, consultancy and actuarial services. It has a presence in the US, UK, India, and Portugal and supports 6m pension holders via more than 1,100 clients.
In January it appointed former Pensions Minister Guy Opperman as a strategic adviser.