UK - The £160m Thomson Travel Group Pension Scheme is undergoing an actuarial valuation, conducted by Hymans Robertson.
Hyman’s bagged a mandate from Thomson travel to provide actuarial and consulting advice to the firm’s final salary scheme with around 6,000 members.
Thomson's was not available for further comment.
Hyman’s was hired after a beauty parade of five undisclosed firms following the retirement of Thomson’s previous actuary, RN Jarvis. Mary Ann McNally will coordinate the team overseeing the pension fund. Ross Russell will take on the formal scheme actuary appointment.
The firm already advises pension funds in the private and public sectors worth over £60bn.
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The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.