Appointment of Spence & Partners
We are delighted to tell you that Cheviot Trustees Limited has appointed Spence & Partners to provide administration services to the Trust. Cheviot’s current finance and pensions administration team will transfer to Spence so if you are already in contact with an administrator, your contact will not change. Spence’s commitment to their staff is significant and we are confident that our staff will benefit from being part of a larger organisation.
Spence’s IT system, Mantle, will enable Cheviot to provide significantly improved member online portals for both MPS and Final Salary Scheme members with the ability to transfer much of the administration of your pension online. The portal will be available when the transition to Mantle is complete, estimated to be 9-12 months. Together with the appointment of award winning Van Lanschot Kempen in 2024, with its proven fiduciary management track record and sustainability credentials, we are confident that Spence’s appointment will enable us to continue to provide excellent and innovative services to employers and members in the future.
Press Release: 2 May 2025
Cheviot, a professional multi-employer master trust with both Defined Benefit (DB) and Defined Contribution (DC) schemes, today announces a refreshed operational and investment model. Developed in partnership with Spence & Partners and Van Lanschot Kempen, the new model is designed to meet the evolving demands of the pensions landscape. This strategic collaboration underscores Cheviot’s commitment to tackling the increasing regulatory burden, managing costs, and delivering streamlined solutions that align with government priorities for consolidation and professional governance.
Established in 1930, Cheviot has consistently supported employers and members by simplifying pension arrangements through a not-for-profit model. The Trust provides an end-to-end service built around gold standard governance, award-winning investment management and administration, and market-leading technology.
Cheviot is pleased to confirm the appointment of Spence & Partners as the new administrator across all its schemes. This follows the 2024 appointment of fiduciary manager Van Lanschot Kempen, known for its strong track record in investment management and sustainability. Together, these partners will enable Cheviot to deliver a sophisticated, scalable solution to schemes of all sizes.
A Model Built for Today’s Challenges
Cheviot’s new model responds to increasing complexity by offering direct access to real-time data and funding updates via Spence’s Mantle® technology, improved information flow and reporting, and a reduced management burden for trustees and sponsors. It also streamlines pathways to buy-in, buy-out, or continued scheme management, and provides enhanced governance options, whether for full service or transitional support.
Elspeth McKinnon, Chief Executive Officer and Co-Opted Director, of Cheviot Trustees comments: “Our new model gives schemes access to an efficient and specialist pensions arrangement that provides an end to end solution for all aspects of pension delivery. We achieve this by leveraging scale, high quality governance and appointing award-winning partners for Investment and Administration. Our approach reduces risk and costs and takes governance off the table, whilst delivering on a scheme’s long term scheme objectives.”
Alan Collins, Managing Director at Spence & Partners, said: "We are thrilled to be appointed as pensions administration provider for the Cheviot Trust and to welcome their staff that will be joining us. As an authorised Master Trust with defined contribution and defined benefit sections, Cheviot has ambitious growth plans in the operational consolidation market that we are excited to be supporting. At Spence, we have developed a smarter approach that re-imagines how pensions are delivered leveraging the unique Mantle® technology that we use to provide the Cheviot Trust's members a highly digitised service across their DB and DC pension savings, whilst also making liability cashflows and data available to the Trust's other advisers.”
Arif Saad, Executive Director at Van Lanschot Kempen, added: "Van Lanschot Kempen is excited to partner with Cheviot Trust and Spence & Partners to offer integrated investment, administration and governance services. This collaboration with an authorised DB and DC master trust has the ambition to offer members, trustees and sponsoring employers market leading services. Van Lanschot Kempen with its longstanding track record in fiduciary management and sustainability credentials is the investment engine for this innovative offering.”
Cheviot’s renewed proposition aims to support clients seeking to consolidate under a flexible full-service model, including options to maintain continuity with an existing trustee or adviser and access FM management, while enhancing governance, navigating a path to buy-out without in-house resource strain, or transition from underperforming administration providers.
For further information please contact:
The Cheviot Trust
Derek Morris, The Cheviot Trust at dmorris@cheviottrust.com or on 07469198649
Spence & Partners
Ged Brumby, Edelman Smithfield at ged.brumby@edelmansmithfield.com or on 07540 412301
Rebecca Lavender, Spence & Partners at Rebecca_Lavender@spenceandpartners.co.uk or on 01412 490957
Van Lanschot Kempen
Arif Saad, Van Lanschot Kempen Investment Management at a.saad@vanlanschotkempen.com or on 07923 233342
About The Cheviot Trust
Cheviot is a professional, not-for-profit multi-employer pension arrangement, supporting both DB and DC schemes.
Cheviot deliver a fully comprehensive, end-to-end approach to pension operations, offering practical solutions for today’s pension challenges.
Cheviot can help manage pension scheme costs through scale and efficiency, and by reducing regulatory burden and compliance risk, we support better outcomes for both sponsors and members.
About Spence & Partners
Spence is focused on service excellence for employers and trustees operating DB pension schemes. Our clients range from large UK PLCs and Government bodies to small-to-medium sized employers and charities.
Spence is one of only four firms appointed by the Pension Protection Fund (PPF) Specialist Administration and Actuarial Services Panel and carries the PPF’s Trustmark.
Spence is on a mission to simplify the delivery of pensions. Our approach takes friction out of the supplier chain and gives members a better experience. We automate 100% of benefits and our combined administration, actuarial and accounting system (Mantle) makes accurate information available to the Trustee and other stakeholders when and how they need it.
https://www.spenceandpartners.co.uk/
About Van Lanschot Kempen Investment Management
Van Lanschot Kempen Investment Management is a specialist investment manager with a focused approach and a clear investment philosophy. We believe in long-term stewardship for our clients and other stakeholders. Van Lanschot Kempen Investment Management provides sustainable returns, fiduciary management services, manager selection, portfolio construction and monitoring, alongside a number of actively-managed investment strategies. As of 30 June 2024, Van Lanschot Kempen Investment Management had a total of €112.9 billion in client assets.
vanlanschotkempen.com/en-gb/investment-management