Mercer Outsourcing, a UK pension administrator, will now pay their overseas pensioners living in 80 countries through Western Union Business Solutions. With this agreement, retirees who receive pension payments through Mercer will benefit in a number of ways, such as:
- Funds can be delivered directly into a bank account in 80 countries in more than 44 currencies.
- Retirees will receive their payments more quickly than ever before – generally within two days.
Mercer Outsourcing employees will benefit from a more streamlined and transparent payments process. They will also be able to validate a pensioner’s details before payments are made.
“This alliance – the largest deal we’ve ever done in the UK – will position Western Union Business Solutions as a leader in processing overseas pension payments,” said Raj Agrawal, president, Western Union Business Solutions. “We hope to replicate this model in the US and Australia, providing convenient, efficient and innovative solutions for employers and their employees.”
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