Worcestershire outsources to Mercer
UK - The £830m (e1.3bn) Worcestershire County Council Pension Fund has appointed William M Mercer as its actuarial consultant. The appointment was made following a formal review of the council’s service providers, which led to the dropping of incumbent Watson Wyatt.
The appointment compliments a recent purple patch for Mercer including its selection by the £1.5bn Nottinghamshire County Council pension fund to act as actuary and investment consultant and a similar brief from the £500m Ciba Specialty Chemicals Pension Scheme.
All of Mercer’s existing local authority clients which have tendered recently have reappointed the group.
“ We are delighted all our existing local authority appointments have been renewed and that we are expanding into new territory. We take this as a reassurance that Mercer is delivering a quality service to its clients,” says Chris Hull, European principal at Mercer and actuary for the Worcestershire scheme.