Pension company sold out

[Deleted User]

One of my pensions (albeit a fairly small one) has changed its company - from Equiniti to XPS Pensions

I was not given any prior warning - the first that I knew was a letter this morning, asking me to register on-line

Should I be concerned ?

I have never heard of XPS !

Brie

Are you sure it's legit?  Maybe google to see if there's news of the buyout?

Thrugelmir

Why not Google XPS ? 

Malthusian

XPS and Equiniti are the same people. (See https://www.equinitipensiontrust.co.uk and note the group corporate name on the bottom.) So it's probably a change of name, not a change of company.

I doubt there is any cause for concern, but if you're in any doubt as to whether the letter asking you to register online is genuine, you could ring the scheme via the number on your old paperwork.

[Deleted User]

Thrugelmir said:

Why not Google XPS ? 

I have googled XPS and it does appear legit - but why was I not aware of this ?

Surely - the original company (EQUINIITI - who are still trading) are obliged to inform its clients/pensioners ?

dunstonh

Pension company sold out

I believe both companies were pension administrators rather than pension companies.  

I don't believe Equinity have been sold to XPS (at least I haven't seen anything that says they have).  However, the employer that ran your scheme may have changed administrator from Equinity to XPS. 

Farside71

These are pension administrators for generally large companies I think.  XPS is possibly the branding Xafinity uses now.  I think Equinity sold off Xafinity years ago.

If you're part of a company scheme I would have thought you'd have some link to a website or something for the scheme, maybe you've missed a communication or they didn't communicate very well.  Pension administrators don't like spending money on things they can get away without spending it on.

[Deleted User]

OK - I emailed Equiniiti and received back a "message read" from XPS - I guess that it must be safe !

Alice_Holt

https://www.equinitipensiontrust.co.uk/

https://www.xpsgroup.com/

"....but why was I not aware of this ?

Surely - the original company (XAFINIITI - who are still trading) are obliged to inform its clients/pensioners ?...."


If you still have concerns contact them directly and ask them your questions.  

[Deleted User]

Alice_Holt said:

https://www.equinitipensiontrust.co.uk/

https://www.xpsgroup.com/

"....but why was I not aware of this ?

Surely - the original company (XAFINIITI - who are still trading) are obliged to inform its clients/pensioners ?...."


If you still have concerns contact them directly and ask them your questions.  

I have done 

Marcon

Deleted_User said:

Thrugelmir said:

Why not Google XPS ? 

I have googled XPS and it does appear legit - but why was I not aware of this ?

Surely - the original company (EQUINIITI - who are still trading) are obliged to inform its clients/pensioners ?

No; you are in a trust-based scheme and that's the job of the trustees of your scheme.