2009-07-23
LONDON – Hewitt Associates, a global human resources consulting and outsourcing company, today announced that it has been appointed by Bradford City Council to provide full actuarial services to the West Yorkshire Pension Fund (WYPF).
The WYPF is the UK's 21st largest fund with 215,000 members, 190 participating employers and assets of over £7 billion at the last actuarial valuation.
Hewitt will provide a wide range of support including advising on all matters of funding policy, fund mortality, admission and closure of employers, outsourcing exercises, additional voluntary contribution schemes and bulk transfer arrangements.
The WYPF becomes the largest fund within Hewitt's growing local authority client portfolio, increasing the coverage of its administering authority appointments to assets of around £25bn held in respect of about three-quarters of a million members.
Tim Lunn who leads the UK Public Sector Pensions team at Hewitt, said:
"Local authority pension schemes face significant challenges in the current environment and – more than ever - need up-to-date and relevant advice. The WYPF is one of the largest funds in the UK both in terms of assets and number of members, so being appointed by such a high profile scheme is excellent news for Hewitt and testimony to the expertise we have built in the public sector."
Stuart Imeson, director of West Yorkshire Pension Fund, said:
"We take very seriously our commitment to provide a quality pension scheme to the members of the West Yorkshire Pension Fund, and the contract for the provision of actuarial services recently came up for review.
"During the course of the tender process it became clear that the Hewitt team had an exceptional understanding of the issues affecting local authority pensions, as well as the ability to deliver new ideas and solutions. We look forward to a constructive working relationship with them."
About Hewitt Associates
Hewitt Associates (NYSE: HEW) provides leading organisations around the world with expert human resources consulting and outsourcing solutions to help them anticipate and solve their most complex benefits, talent, and related financial challenges. Hewitt works with companies to design, implement, communicate, and administer a wide range of human resources, retirement, investment management, health care, compensation, and talent management strategies. With a history of exceptional client service since 1940, Hewitt has offices in more than 30 countries and employs approximately 23,000 associates who are helping make the world a better place to work. For more information, please visit www.hewitt.com.
Other Contacts
Anna Mitchell, Capital MS&L, on 020 7307 5346 or anna.mitchell@capitalmsl.com
Helen Essex, Capital MS&L, on 020 7307 5343 or helen.essex@capitalmsl.com