Transport for London (TfL) has chosen Towers Watson to provide actuarial and investment advice for its £5.5 billion defined benefit (DB) scheme, Professional Pensions reports. Towers Watson’s reappointment follows a comprehensive review. The company will assist TfL for another six years, managing the triennial valuations due in 2012 and 2015, adds IPE. The consultancy beat rival Mercer to be the scheme’s investment advisor until 2017.
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