GLOBAL - Towers Perrin has increased its focus on cross-border pension plans for multinational companies with the appointment of senior consultant Dave Roberts.
The first cross-border schemes have been established for mobile workers, to effectively manage their pensions as they move between European countries. Roberts, who will be based in London, will also focus on using cross-border pensions to establish new schemes in markets such as Eastern Europe.
He said: "UK plc has not yet fully embraced the potential of cross-border pensions. Cross-border pensions allow multinationals a better overview of their pensions commitments, and allow them to calculate the risks as a whole. This opportunity to create a single pensions knowledge centre within a company should not be overlooked".
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
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.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.