BW has secured a contract for up to ten years with the fund, which is operated by Hertfordshire County Council.
The Hertfordshire Pension Fund has over 500 participating employers, resulting in over 130,000 members and an asset value of over £6 billion. BW’s Public Sector Team, which supports and advises around 25% of LGPS funds across the UK, was chosen following a competitive selection and tendering process.
Barnett Waddingham Partner and Fund Actuary, Barry McKay, said: “We are delighted to have been appointed by the Hertfordshire Pension Fund and are very much looking forward to working with them. I have personally worked with Hertfordshire previously for around 12 years, and I’m excited to recommence our relationship.”
“Hertfordshire Pension Fund is a leading fund, providing a high-quality service to its stakeholders because of its strong governance and partnerships. BW are committed to working collaboratively with our clients to deliver an excellent, cost-effective service. Our cultures are therefore very much aligned, and Hertfordshire Pension Fund can be certain that we will deliver on this commitment.”
Patrick Towey, Head of the Hertfordshire Pension Fund, said “We are delighted to be working with Barnett Waddingham and look forward to building a strong, working relationship with Barry, Chris and their team over the years. Barnett Waddingham’s appointment comes at the end of an extensive procurement process, and I would like to thank my team for their hard work to support the Fund in making this key appointment.”
In addition to LGPS funds, Barnett Waddingham also provides services to Police Authorities, Fire and Rescue Services, NHS Trust Funds and various employers who participate in public sector schemes, such as the Principal Civil Service Scheme.
BW advises on risk, pensions, investment, insurance, and employee benefit services. The consultancy acts as a trusted partner for a wide range of clients in both the private and public sectors – this includes 25% of FTSE 100 and over 15% of FTSE 350 companies.
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