2nd June 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.
