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The Actuary The magazine of the Institute & Faculty of Actuaries

Transport for London back on board with Towers Watson

The trustees of the Transport for London (TfL) Pension Fund have reappointed Towers Watson as actuarial advisers following a comprehensive review. As part of the review, the trustees changed investment advisers appointing Towers Watson in this capacity.

Stephen Field, head of pensions and fund secretary at TfL, said: "Towers Watson have a strong track record and in a very competitive marketplace their commitment to, and thorough understanding of, our Fund will guide us through the next phase of strategy."

Chris Ford, EMEA head of investment at Towers Watson, said: "We are delighted to have been appointed as investment advisors to the TfL Pension Fund and to have retained the prestigious actuarial appointment. This broadening of our mandate builds on our long relationship as trusted advisers to the Fund. The TfL Pension Fund is a significant new investment client for us and we look forward to providing them with innovative investment advice."

The mandates are to provide actuarial and investment advice to the TfL Pension Fund’s £5.5 billion open defined benefit pension fund.