Muntons PLC, Stowmarket, England, is having HSBC Actuaries & Consultants conduct an asset-liability study of its £20 million ($37.3 million) retirement benefits scheme, said Gerald Prior, Muntons managing director. Results are expected in September. Limited changes are expected, he said.
Trustees of the pension plan this month hired HSBC as actuary and investment adviser to the scheme after a competitive bidding; HSBC replaced incumbent Gissings, Mr. Prior said. Trustees decided to appoint HSBC because of the changing needs of the pension plan after it was closed to new members a year ago, Mr. Prior said.
Assets are managed by Legal & General Investment Management and Scottish Widows Investment Partnership. Mr. Prior would not give further details.
