The Harrods Group Pension Plan has selected XPS Pensions Group to provide investment advice, following a competitive tender process.
The £700m defined benefit (DB) scheme's trustee had been seeking an adviser to partner with after support in recent years has put it in a position where significant de-risking is possible.
The scheme's trustee chairman David Fripp commented: "We selected XPS Pensions Group to provide investment advice to the plan because we felt they would be a great fit for us. They really listened to the brief and came up with solutions that were tailored to our objectives and challenges."
XPS Pensions Group head of investment for Leeds, Ben Gold said: "We are delighted to be working with the trustee of this iconic and highly respected brand. We're pleased that we can use our experience in cashflow driven investment (CDI) with the trustee.
"Adopting a CDI strategy will help the plan significantly de-risk to ensure its members receive their benefits in full."
Fripp added: "We were particularly impressed by the quality of their people and their very clear communication."
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