The trustee of the £400m Norcros Security Plan has appointed Buck Consultants to provide actuarial services.
Under the agreement, Buck will assume statutory scheme actuary responsibilities as well as more strategic advice and regular monitoring of the defined benefit (DB) scheme belonging to the shower, tap, bathroom accessories, tile and adhesives supplier.
The mandate win follows a competitive tender process and services will be provided by Buck’s Manchester-based team.
Norcros group pensions manager Gordon Baker said: “Throughout our review exercise Buck demonstrated professionalism, a thorough understanding of our plan’s requirements and most importantly a proactive and engaging approach with which all our trustee directors were impressed.”
David Piltz, head of Buck’s Manchester office, added: “This appointment demonstrates the strength of both our team in Manchester and also our national practice more widely, and is testament to the quality of our services and our practical approach. We look forward to working with the trustee directors on this very important mandate.”
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