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First's Bus Pension Scheme named UK Pension Scheme of the Year
Monday 28 September 2009
The pension scheme at the UK’s largest bus company, Aberdeen based First UK Bus, has been recognised as both the UK’s ‘Pension Scheme of the Year’ and ‘Large Scheme of the Year’ at the 2009 Professional Pensions awards, the ‘Oscars’ of the pensions industry.
The title ‘Pension Scheme of the Year’ is awarded to the scheme that stands out as the best entrant from all categories. The judges identified the First UK Bus Pension scheme as the one that “offers the highest quality of service, innovation and administrative efficiency to members.”
The awards, held last week in central London, cover pension schemes in both the public and private sector. The shortlist for the Pension Scheme of the Year award included: the Railways Pension Scheme, Co-operative Group Pension Scheme, Greater Manchester Pension Fund, Strathclyde Pension Fund, the ITV Pension Scheme and the West Yorkshire Pension Fund.
Richard Soper (Trustee Co-Chairman) said: “We’re delighted to have been singled out as the best pension scheme in the UK. “This is the greatest possible testament to the work of the Trustee Directors and to the strong support of the company.”
John Chilman (FirstGroup’s Reward & Pensions Director) said: “These latest awards confirm the growing recognition that our pension package is not just industry leading in the benefits provided, but also in the way it is managed.”
The 2009 Professional Pensions Awards were presented by journalist and broadcaster John Sergeant and held at London's Grange St. Paul's Hotel.
These are the most recent awards for First’s pension and reward practices. The First UK Bus Pension Scheme also won ‘Best Investment Strategy’ award at the Engaged Investor Trustee Awards in July 2009. First’s Reward & Pensions team was named ‘Benefits Team of the Year’ by Employee Benefits magazine in June 2009 and in 2008, First’s Group Reward & Pensions Director, John Chilman, picked up both of the major awards for individuals working in the pensions industry.
Caption: From left to right: David Maddison of RPMI (award sponsor), Richard Soper (Trustee Chairman), Martin Carroll (Trustee Co-Chairman), John Chilman (FirstGroup's Rewards & Pensions Director) and John Sergeant.