The Sovereign Group has agreed a five-year deal to implement Delta’s next-generation Platinum~Pro platform for the administration of both its Self-Invested Personal Pensions (SIPP) and Small Self-Administered Schemes (SSAS) books of business.
Since acquiring MW Pensions in 2016, Sovereign has been administering its UK SIPPs through Delta’s SIPP~Pro application, but it is now migrating the entirety of its £1 billion UK business to the cloud-based Platinum~Pro technology. In addition, provision has been made for the future adoption of Delta’s iFreedom mobile-first digital portal, which delivers real time data access to members and their advisers.
Delta Financial Systems supplies specialist pensions technology, administration systems and consultancy services to self-administered pension providers and its professional services team will conduct a business process review on the Sovereign’s UK administration function to identify additional efficiencies and governance across the operation, firmly cementing Sovereign’s position as a leading pension provider.
Richard Chandler, Managing Director of Sovereign Pension Services and Sovereign Corporate & Trustee Services, said: “Delivering value to our customers through innovation and technical expertise is central to our pension scheme administration. Given the increasing complexity of pensions it is critical that we adopt leading edge technology to drive our business forward, both in the UK and internationally.”
Michael Power, CEO of Delta, said: “Borne out of two decades’ experience in pension technology, Platinum~Pro represents the future of scalable, cloud-based complex pension administration. In migrating the entirety of Sovereign’s UK business across to our next generation technology, Richard and his team are future-proofing their complex pension administration and we’re delighted to be partnering with them in that task.”