Boyes becomes 65th company to join pension consolidation platform – Enplan

30 September 2024: Enplan, operated by Entrust and Isio, one of the fastest-growing UK pensions advisory business, adds Boyes, the Scarborough based department store retailer, to its defined benefit (DB) pension consolidation platform. W Boyes & Co Ltd Retirement Benefits Plan becomes the 65th pension scheme to join the Enplan platform.

Enplan offers a one-stop-shop solution to running pension schemes that includes scheme secretarial and governance services provided by Entrust, and actuarial, investment, and administration services provided by Isio. Enplan saves schemes time and money through economies of scale, while enabling them to retain their original independent legal structure and identity.

The Boyes pension scheme has joined Enplan after a selection process led by the employer and a presentation to its Trustee board. The platform was selected for its ability to modernise and future-proof the scheme’s management, offering a fully bundled solution that integrates all necessary services.

Enplan was launched in response to a significant consolidation opportunity emerging in the DB marketplace. It has now onboarded 65 schemes and is responsible for close to £1.5 billion of DB pension scheme assets.

The platform serves a diverse range of clients across various sectors, from cheese makers to builders. Among its clients are building societies, charities, and housing associations, with client sizes ranging from £5 million to over £200 million.

Ian Warman, Partner at Isio, said: “We are thrilled to welcome Boyes to the Enplan family. Our platform is designed to provide efficient and effective pension solutions, and we are confident that Boyes will benefit considerably from our comprehensive services. Our goal is to support our clients with knowledgeable, approachable, and professional service, ensuring the best outcomes for their schemes and members.”

Andrew Boyes, Chairman and Joint Managing Director at Boyes, said: “We chose Enplan because of their professionalism and the approachable nature of their team. Their knowledge and expertise in managing pension schemes were evident from the start and we are excited to work with them, with Entrust as our single professional Trustee, to enhance our pension scheme management.”