UK - The £2.7bn pension fund for struggling telecoms company Marconi has set a date for its actuarial study during the next quarter, with an outcome expected in September.
Watson Wyatt will conduct the review which starts on April 6. The news follows Marconi’s recent pledge to rectify a £137m deficit in its UK pension plan with an additional £16m pumped into the fund over a 12 year period.
Currently, Marconi uses Merrill Lynch Investment Managers and Bankers Trust Company as its principle fund managers. Its property managers include Gerald Eve, LaSalle Investment Management and Pepper Angliss & Yarwood.
Last year the fund appointed ABN Amro Mellon as its global custodian replacing State Street Global Advisors, Bank of New York and Deutsche Bank.
By Madhu Kalia
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.
Tim Sharp says the government has missed some big opportunities to help workers in the DB white paper.