General Lighthouse Authorities for the U.K. and Ireland hired Hymans Robertson to help modernize its pension arrangements, according to a Hymans news release.
The authorities could soon be granted additional pension powers through the British Draft Marine Navigation bill, which, according to the release, includes provisions to allow the setting up of a new funded pension scheme(s), which will put their pension arrangements on a firm footing for the long term.
Jo Nussbaum, spokeswoman for Hymans Robertson, could not provide additional details, referring questions to John Wright, partner at Hymans, who was unavailable. A call to the Edinburgh-based Northern Lighthouse Board, a member of the GLA, was not returned by press time.
In addition to the Northern Lighthouse Board, Trinity House, London, and the Commissioners of Irish Lights, Dublin, are in the GLA.