Barclays Corporate & Employer Solutions partners with Aegon and Zurich on workplace pensions

The FINANCIAL — Barclays announced that its Corporate & Employer Solutions (C&ES) division is teaming up with Aegon and Zurich to provide a corporate pension platform as part of the Barclays C&ES workplace savings offering.

Supported by the administrative capabilities of one of the world’s largest pension companies, Aegon and leading pension provider Zurich, the pension element of the Barclays C&ES workplace benefits proposition will give access to Barclays Wealth & Investment Management investment funds. As Barclays said, the funds are suitable for use by employees in their Barclays workplace pensions as ‘default’ investment options.

Barclays Wealth & Investment Management has designed the strategic asset allocation of the new funds using its team of award-winning experts in investment philosophy, asset allocation, risk management and behavioural science.

With a focus on consulting, investment and engagement, 2013 is set to be a another significant year for Barclays C&ES and further announcements regarding the development of its new workplace benefits offering are expected throughout the first quarter of the year. The build out of the offering is being overseen by Katharine Photiou who joined Barclays C&ES in May 2012 from Mercer.

Commenting on the announcement, Richard Phelps, Head of Barclays C&ES said: “2013 is set to be a landmark year for Barclays Corporate & Employer Solutions, in particular as we roll out our workplace savings proposition. Harnessing the capabilities of the Barclays Group as well as joining forces with Aegon and Zurich for our corporate pension offering underlines our commitment to bring something different and compelling to the workplace savings arena.”

Simon Foster, Head of Zurich's Corporate Life and Pensions business in the UK, said "At a time when providers are increasingly being differentiated by their ability to deliver outstanding service levels in the corporate savings market, we are delighted to be working in partnership with Barclays Corporate & Employer Solutions to provide a proposition that meets both the current and long term needs of trustees, employers and their employees."

Angela Seymour Jackson, Managing Director for Workplace Solutions at Aegon UK said: “We share Barclays view of the importance of workplace savings and the potential of this market. We are delighted to be working with Barclays Corporate & Employer Solutions to deliver the excellent levels of service that employers and employees need.”