Buck Consultants announces that it has been appointed to provide actuarial, consulting, investment consulting and administration services to the Trustee of the MAG (STAL) Pension Scheme, a new £100m defined benefit pension scheme. The arrangement is being set up specifically to provide pension and life assurance benefits to the Manchester Airports Group PLC’s (MAG’s) new employees following its recently announced acquisition of Stansted Airport.
Services will be provided locally from Buck’s Manchester office with investment consulting services provided centrally from Buck’s London headquarters.
Mark Cliff, MAG’s newly appointed Head of Pensions, commented: “Buck’s commitment, expertise and enthusiasm really came through throughout our selection process and we believe Buck is well-placed to deal with the complexities involved. Indeed we have already made good progress in preparing for the commencement of the new scheme, which will be rolled out to employees over the next month.”
Commenting on the appointment David Piltz, Buck’s Market Leader in Manchester said: “We are delighted to be appointed to work with MAG and the Trustees on this vital project and recognise the importance of effecting an efficient and accurate new scheme set up to make a great impression to MAG’s new employees.”
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