For many years, the Abbott Laboratories Pension Fund (1966) has been administered by Mercer. Many members will be familiar with the Mercer branding on various quotes and statements.
A new Company was launched on 1 January 2024 called ‘Aptia’, consisting of Mercer’s UK Pensions Administration business and Mercer’s US Employee Benefits business. Our scheme is therefore now being administered by Aptia.
We are still working almost entirely with the same people who are working from the same desks, using the same database and the same IT systems as before. The transition has been seamless. In time, Aptia intend to invest in development of the people and of the IT systems, which we hope will bring positive news for their clients.
For a while you may still see Mercer branding on quotes and statements. The Mercer portal contact.mercer.com remains open and with the same name. Over time, all the branding of the administration tasks will change to Aptia branding, but the changes may not happen simultaneously. Nothing has changed as regards the standards of service which the Trustee will demand from the administrators.
For quite some time Mercer and Aptia will be working very closely together, but they are separate Companies. Aptia is not owned by Mercer.
The Abbott Laboratories Pension Fund (1966) continues to receive various other services from Mercer which are not administration, including actuarial advice on the funding of the scheme. The change in the administration makes no change to these.
If you have any queries regarding Aptia, please email your questions or comments to ukpensions@abbott.com.