PricewaterhouseCoopers yesterday announced its acquisition of a 30% share in Callund Consulting, a UK based pension consultancy providing specialist advice to governments worldwide on the reform of national pension and health schemes.
This strategic alliance brings together the global resources of PwC, one of the world’s largest advisers on international pension planning, with the specific expertise of Callund in advising governments in emerging and developed markets on pension and health-financing reform.
Callund will remain a separate business. Its intervention in countries such as Russia, Brazil and Chile has assisted in the development of an infrastructure to enable companies, including multinationals, to arrange employee benefit arrangements in those markets. PwC already provides actuarial advice in several similar markets but is looking to expand its global reach in the field of pension reform.
Trevor Llanwarne, partner in PricewaterhouseCoopers Human Resource Consulting practice, said: Time is running out for countries struggling to finance state pension schemes, whose future generations will not be able to sustain current pension levels. Even countries within the EU should be looking for advice on setting up alternative systems, if they are to avoid the serious pitfalls ahead.”
David Callund of Callund Consulting said: Public policy decisions, concerning the future of national pension and health structures, are not taken in isolation. They are part of the wider social and macroeconomic planning of governments. This strategic alliance between Callund Consulting and PricewaterhouseCoopers will enable Callund's expertise to be deployed in a broader context than has been common in the past.
Earlier this week, PwC announced its acquisition of Monks Partnership, a UK consultancy in executive and management pay.
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.