28/2/2009
By Sophie Baker
Nuffield Health has appointed Mercer as corporate adviser on their pension liabilities. The fund has over £200million in assets, and around 8,000 members. Mercer said they are delighted to have been awarded this position.
Pension and employee benefits services will be provided by Alexander Forbes Financial Services for South Wales based car dealership Mon Motors. The contract will see the implementation of Alexander Forbes' employee benefits package, Xtrapay, across Mon Motor's ten dealership sites which employee 580 staff.
Xafinity Paymaster has been appointed by Just Retirement to provide an overseas payments service to customers who live and receive their annuity payments abroad. Xafinity provides annuity payment services in the UK to 2.2million pensioners and annuitants across 189 countries, valued at £10bn per year.
Northern Trust has been selected by Resolution Limited to provide company administration and corporate secretarial services to its new £660million acquisition vehicle. Resolution Limited intends to acquire and restructure businesses in the life assurance, asset management, general insurance, banking and diversified general financial sectors in the UK and Western Europe.
The Vivendi 2008 Pensioners' Scheme has chosen MetLife Assurance Limited to secure its pensioners' benefits through a bulk annuity contract. The deal was apparently sealed as a result of MAL's 'same-day transaction' model, which it introduced following experience in the US. The model allows trustees to enter the buy-out process with greater certainty, MetLife said.
Aberdeen Property Fund Denmark P/S has acquired the commercial property portfolio from The Danish Pension Fund for engineers (DIP). The portfolio consists of seven office properties and DKK 487.5million (€65million) of assets under management, and DIP will receive 40 per cent of the acquisition price in shares in the fund. The remaining 60 per cent will be cash.
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FTT would disproportionately impact pensions - EFRP
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