Highlands and Islands Enterprise defined benefit pension fund trustees, Ross-shire, Scotland, hired Hymans Robertson to provide actuarial, investment consulting and administration services, said a spokeswoman for HIE.
HIE is the Scottish government’s economic and community development agency for the Highlands and Islands of Scotland. The pension fund has £80 million ($115 million) in assets.
The spokeswoman said the appointment followed a competitive tender process, and that the previous provider was Mercer.
“We appointed Hymans Robertson as we believe its approach to funding — which integrates investment, contributions and covenant (the sponsoring employer’s legal obligation and financial ability to support the pension fund) — would result in a partnering approach between the trustees and our sponsor, HIE,” said Zahir Fazal, director of BESTrustees and chair of the trustees of the pension fund, in a news release by Hymans Robertson.
