UK - The £1.3bn Shipbuilding Industries Pension Scheme (SIPS) has dropped Aon Consulting and appointed Hymans Robertson to provide actuarial strategic investment and related consultancy services.
Confirming Aon had been replaced, SIPS trustee secretary Martin Boulton said: “It’s essentially a scheme actuary appointment. The reason for the change is that a review was coming out as part of the scheme’s overall governance process.”
MD of the trustee company Roger Buttery said the trustee’s review was initiated for governance reasons.
SIPS is an industry-wide pension scheme, for employers connected with the shipbuilding and related industries. The pension scheme remains predominantly a final salary arrangement, and covers 7000 active, 8000 deferred and 9000 pensioner members located around the country.
By Damian Clarkson
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.