UK - The £25m Wyman-Gordon Retirement Benefits Plan has dropped William M Mercer and appointed Vantage Global Advisors (VGA) as its consultants.
The West Lothian fund switched to VGA after deciding that it would be more cost effective to use the same investment consultant as the one used by Wyman-Gordon’s parent company, US-based Pennsylvania Precision Cast Part’s.
The Wyman-Gordon Retirement Benefits Plan will also review its existing investment strategy in three month’s time. This move will imply a review of the fund’s existing investment managers, Schroder Investment Management, which holds a £20m global active equity mandate and Barclays Global Investors, which holds a £5m passive fixed income mandate.
By Janet Du Chenne
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.