UK – Major employee benefits consultancy firm, William M. Mercer, has been chosen to act as consultant for the pension fund of Boxclever, the newly formed television and video rental joint venture company owned by Nomura, the major Japanese financial group, and Granada, the leisure services group.

The new company was established last year when the television and video rental operations of Granada and Thorn (trading as Radio Rentals), which had been acquired by Nomura, merged.

The new scheme will go live in October, though no details if its size or investment strategy are available yet except that it will be open to some 4,000 members. It will feature both defined contribution and benefit sections, including replica arrangements for employees transferring their existing pensions from Granada and Thorn.

Mercer will give across the range advice, including investment consultancy, actuarial and benefits advice, documentation and member communication services, and advise on the appointment of scheme administrators.