William M Mercer has been appointed as consultant to the soon-to-be-launched Boxclever group pension scheme.
The scheme, which is due to launch at the start of October, is a result of the merger of the television and video rental businesses of Thorn - which trades as Radio Rentals - and Granada. The new company, formed last year, is jointly owned by Granada and Nomura.
Nigel Ross, senior consultant at Mercer's investment practice and consultant to the new fund, said he expects the new scheme to be worth over £100m. Approximately 4000 Thorn and Granada employees are expected to transfer to the new fund.
Ross also added that the new scheme will be comprised of final salary and defined contribution (DC) sections for the group's employees. Granada and Thorn employees transferring to the Boxclever scheme will have replica arrangements in place when they do so, he said. New employees will join the scheme's DC plan.
Mercer will be provide actuarial, benefits and investment consultancy services to the fund. Additionally, Mercer will provide documentation and member communication services, as well as advice on the appointment of scheme administrators.
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