William M Mercer has replaced Entegria as actuarial and benefits consultant to National Express Group, a UK bus, train and coach company.
The business currently employs 40,000 staff and has a turnover of around £2bn, having rapidly expanded over the past two years in the UK, US and Australia.
The UK-based National Express Group Pension Plan has 1,000 members and a fund value of £15m. Mercer services will include actuarial, documentation, risk benefit and investment consulting.
The scheme was previously advised by Entegria and pension administration is handled in-house.
This week's edition of Professional Pensions is out now.
Nearly 60% of UK employers consider defined contribution (DC) master trusts to be the "most suitable" pension fund for their employees, according to research by Buck.
Companies which have tried to dodge their pension duties by changing their identities are being "hunted" by The Pensions Regulator (TPR) in a crackdown on non-compliance with auto-enrolment (AE).
Removing liquidity restrictions would enable DC funds to capitalise on the potentially higher and safer returns that DB schemes have benefitted from, says Patrick Marshall.