AUSTRALASIA - Mercer has brought its Australian, New Zealand and Asian businesses under one umbrella, combining its capabilities in the areas of retirement and benefits outsourcing.
Peter Promnitz, region head for Asia Pacific at Mercer, said outsourcing was Mercer's largest line of business in Asia Pacific and it was looking to accelerate growth in both new and existing markets.
He said: "We have a world leading retirement outsourcing business in Australia.
"Now, our Asian operation will be able to utilise the same systems and business processes - as Asian clients increasingly turn towards retirement benefits to differentiate themselves in the current competitive talent environment."
Promnitz said, as part of the integration, Mercer would be working towards an extension of its existing bundled solution to provide a Total Benefits Outsourcing platform, a solution giving clients one access point for retirement, healthcare and flexible benefits administration.
The Co-operative Group's Somerfield Pension Scheme has completed a buy-in with Pension Insurance Corporation (PIC), insuring the benefits of its pensioner members.
Caroline Rookes CBE and Michele Hirons-Wood have joined The Pension Superfund's board of trustees to focus on maintaining governance standards and safeguarding member benefits.
The first specialist independent firm advising pension schemes on bulk annuities or moving to a consolidator has been set up with ambitions to shake up the market.