UK - Mercer Human Resource Consulting is to provide actuarial, investment, legal and benefit consulting services to the Omnetica Pension Plan.
The move follows the launch of a new defined contribution plan at the firm, which is expected to have a membership in excess of 600.
Mercer senior consultant Mark Whitcombe said: “This is an important relationship for Mercer and we very much look forward to working in partnership with Omnetica to provide optimum benefits for its staff.”
Omnetica – which offers network solutions and services for enterprises and service providers – has approximately 1000 staff throughout Europe.
It was set up in September 2002 and consists of the former Siemens Network Systems of the UK, Arche Communications in France and PRES in Italy.
Kohlberg Kravis Roberts – a US private equity firm – owns 81% of the firm with Siemens holding the remaining 19%.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers