UK - The £500m (e789m) UK Ciba Specialty Chemicals Pension Scheme has appointed William M. Mercer as its actuarial and benefit consultant.
The scheme is a hybrid arrangement, combining mostly defined benefit with some defined contribution elements. Following the company’s de-merger from Novartis, the scheme was set up three years ago.
The previous actuarial and benefit consultant to Ciba’s scheme was Towers Perrin. Mercer will also continue as the scheme’s investment consultant.