UK - Hewitt Bacon & Woodrow has been appointed as the actuary, pensions and investment consultant to the £350m Polestar Pension Scheme.
The 7000-member scheme is closed to new entrants and is one of three schemes run by printing firm, Polestar.
Hewitt’s appointment follows a benefits review which led to Polestar amending its DB provision to a career average scheme and introducing a defined contribution plan for new entrants.
Hewitt actuarial consultant David Bush said: “As with other trustees, the scheme is facing increasingly complex issues. In particular, investment strategy is a key part of our brief – partly a reflection of the poor investment market performance over the last couple of years.
“We are looking forward to working in partnership with the trustees to help them understand the investment and other complex issues that they – like other trustees – are facing, in order to make informed decisions about the way they manage their scheme.”
The government is in talks with the UK and Irish pensions regulators over how to protect members of cross-border schemes in the event of a no-deal Brexit.
The equalisation of guaranteed minimum pensions (GMPs) is at least two years away from being completed, and could take longer than four years for some schemes, a poll has found.
The Pensions Regulator will consider if schemes should be required to have professional trustees and assess the case for greater regulation of administrators and system providers, PP can reveal.
UK inflation fell from 2.3% to 2.1% in December, approaching its lowest rate for two years, according to the Office for National Statistics (ONS).