Jardine Lloyd Thompson Benefit Solutions (JLT), a provider of employee benefit administration services, has appointed Citigroup Corporate and Investment Banking to work with JLT to process overseas pension payments for members of pension schemes that it administers.
Citigroup’s Global Transaction Services will work with JLT to support the regular electronic payments to overseas pensioners in over 80 countries through its market leading Worldlink Payment Services. Worldlink Payment Services is used by corporations, financial institutions and governments to process international payments in over 135 currencies.
“This new way of arranging overseas pension payments to the members of the pension schemes that we administer is part of our ongoing drive to improve customer service,” says Adrian Stanworth, the Director of Administration at JLT. “Working with Citigroup means we can offer improved processes to members and clients both in the United Kingdom and abroad.”
“We are delighted that JLT is working in partnership with Citigroup to handle this critical part of its operation,” adds Naveed Sultan, the Head of Cash Management for Europe, Middle East and Africa at Citigroup. “As a world leader in processing overseas pension payments, Citigroup can provide JLT with improved processes, controls and reduced costs across our global network to benefit its clients and grow its business.”