The PZ Cussons Retirement Benefits Plan has appointed Mercer as its implemented consulting service provider, Professional Pensions reports. The trustees of the U.K. scheme selected Mercer after conducting an overall strategic review of its DB pension risks, during which it identified and agreed with the trustees a long-term target.
The company had shut its defined benefit pension plans in 2008 and was seeking ways to lower the risks associated with its legacy arrangements. The financial services consulting firm will offer its dynamic de-risking service to the £140 million retirement plan to address risk within the scheme’s existing investment and funding strategies.
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