UK - Mercer Human Resource Consulting has been appointed by Apache Corporation to set up a new final salary scheme and provide pensions and benefits advice.
The move follows Apache’s recent acquisition of BP Forties oil field.
A new pension plan will be established for some 250 staff, who transfer under TUPE law, with a defined benefit section for existing BP scheme and a defined contribution section for new hires.
Mercer will provide actuarial, administration, investment and legal services along with advice on communications, employment law, healthcare, HR operations, employee performance and reward.
Mercer European partner Peter Wallum said: “We are delighted to be appointed by Apache and look forward to drawing on our resources to deliver a seamless service.”
This week's edition of Professional Pensions is out now.
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