As pensions become increasingly costly and difficult to manage, companies can de-risk their balance sheets by transferring pensions to insurers and pension acquirers

New collaboration enables seamless pension experience from administration to payments

The Bank of New York Mellon Corporation ("BNY") (NYSE:BK), a global financial services company, and Conduent Incorporated (NASDAQ:CNDT), a global technology-led business solutions and services company, have today announced a strategic alliance to connect insurers and pension acquirers with end-to-end pension risk transfer services in one place.

The new strategic alliance combines BNY's leading global payments and cash management capabilities with Conduent's expertise in maintaining the records for pension accounts, managing transaction data and ability to provide customer service for pension members. The collaboration provides insurers and pension acquirers access to an end-to-end pension risk transfer solution that operates in a single, comprehensive system.