UK – Pensions and benefits consultancy firm, Punter Southall, has been appointed as actuaries and administrators to the £67m (€107m) defined benefit (DB) pension fund of BACS, the global automated clearing house company.

According to Punter Southall, BACS awarded the firm the mandate because of its service-led approach, reputation and technical systems.

The BACS pension fund has some 950 members and pensioners.

As well as having offices throughout the UK, London based Punter Southall also has an office in Boston.