UK - Mercer Human Resource Consulting has taken on 16 Scottish & Newcastle in-house pension staff from as part of an outsourcing contract with the brewing firm's £2bn (€2.9bn) pension fund.

Mercer said it has been appointed to provide a full range of pension management services for the trustee of the Scottish & Newcastle Pension Plan.

It will provide actuarial and investment consulting, accounting, administration and secretarial services, and client management. Financial terms were not disclosed.

The appointment relates to S&N's 43,000-member defined benefit scheme.

"As a result of this appointment, 16 Scottish & Newcastle staff transferred to Mercer's Edinburgh office under TUPE [Transfer of Undertakings (Protection of Employment)] aarrangements on 17 July," the consulting firm said.

"We were impressed by Mercer's strong industry reputation and cultural fit with our pension team and the trustees," said Tony Graham, S&N's human resources director and chairman of the Scottish & Newcastle Trustee.

"We are confident Mercer will provide an enhanced service for our members and greater development opportunities for our pension team."

"We are absolutely delighted with this success," said Bruce Rigby, Mercer's global retirement business leader.

"This is a very significant appointment for Mercer in the UK and demonstrates our commitment to providing outsourced solutions for our clients."