Parallel Employee Benefits (Parallel EB), the independent employee benefits innovator, announces today a new partnership with CAPAdata, becoming one of the first organisations to join the recently-launched fintech in the Beta programme.
The collaboration will give Parallel early access to CAPAdata’s innovative platform, designed to help employers better assess pension provider performance, while enabling CAPAdata to refine its product with direct feedback from an experienced employee benefits consultancy.
The UK pension landscape is undergoing its most significant transformation in decades. The government’s Pension Schemes Bill signals decisive action to drive consolidation, increase scale, and shift focus from costs to value across the £800 billion workplace DC pension market.
The partnership reflects Parallel’s commitment to harnessing technology in support of stronger pension governance, particularly for small and mid-sized enterprises (SMEs), where the need for independent oversight is often greatest.
The partnership marks the start of a collaborative journey, with both organisations aiming to raise the bar for pension governance and empower employers with the tools they need to deliver better outcomes for their people.
Dipa Mistry-Kandola, CEO of Parallel Employee Benefits, said:“We are always looking for ways to bring innovative solutions to our clients. SMEs often struggle with pension governance because they lack the resources and visibility that larger employers enjoy. Partnering with CAPAdata allows us to close that gap. Their technology gives employers a clear, data-driven view of provider performance, and when combined with our governance expertise, it creates a powerful solution to help SMEs deliver better outcomes for their people.”
Caroline Masterton, Director of Parallel Employee Benefits, added:“Independent pension governance is at the heart of what we do. Too many employers find themselves locked into pension arrangements without the clarity to know if those schemes are really delivering value. CAPAdata’s platform helps us tackle that problem head-on by bringing transparency and actionable insights into the process. For SMEs in particular, this means they can make informed, independent decisions with confidence; rather than relying on guesswork.””
Sam Seaton, CEO of CAPAdata, commented:“One of the biggest challenges in pensions today is that employers and trustees often lack the tools to measure whether schemes are truly working in their members’ best interests. CAPAdata was built to solve that problem—providing independent, comprehensive data across 98% of the multi-employer DC market. With the Value for Money Framework now requiring standardised value assessments from 2028, that capability has become essential. Our proprietary chain-linking methodology shows what members actually experience over time, not just snapshots. By working with Parallel, we’re able to refine the platform with real-world feedback from a specialist in the sector that understands the day-to-day struggles employers face. Together, we’re building the data foundation that makes good pension governance accessible to every employer.”
