Following the closure of its final salary pension scheme to new entrants, the University of Reading will auto-enrol all employees over age 22 into a new defined contribution (DC) pension scheme.
BlackRock has been appointed to the DC scheme to provide a full proposition of investment funds, administration and member communications.
Around 200 new university employees a year are expected to join the scheme which will also be open to staff who have not yet joined a pension fund.
John Brady, director of human resources at the University of Reading, said: “The University is very pleased to be working in partnership with BlackRock to introduce its new pension scheme arrangement.
“The in-house university team has worked with BlackRock’s communication team to deliver a fully-branded suite of member literature, and we are confident that the range of investments on offer will provide a suitable mix of options for our new employees.”
For more articles on defined contribution pension schemes