82 jobs saved as Goddard Perry buys Aegon arm

AEGON UK has sold its third-party pensions administration business to corporate consultants Goddard Perry.

The Edinburgh-based life and pensions company announced last month that it was closing the business which employs 82 staff in Daresbury, Cheshire.

But after the announcement on 28 September, Goddard Perry approached Aegon with an interest in buying the business and terms have been agreed.

Aegon said it believed that the sale offers stability and continuity of service to customers and better long-term prospects for employees in the business.

The terms of the transaction were not disclosed. The company will be reverting to HS Administrative Services and will be known as HS Admin.

It provides pensions administration and data management services to occupational defined benefit and defined contribution pension schemes, but was no longer considered core to the company's plans.

Aegon UK's chief operating officer Adrian Grace said the deal "makes sense" for Aegon, provides continuity for customers and brings brighter long-term prospects for employees at the Daresbury site.

Steve Goddard, of Goddard Perry, said: "We are delighted with the acquisition and are pleased to announce that HS Admin will continue as a fully operational going concern."

The disposal was part of a review of operations aimed at taking 80 million a year in running costs out of Aegon UK. The company is expected to confirm up to 600 job cuts at the end of November.