Marvin OnumonuWillis Towers Watson (WTW) has been appointed as outsourced chief investment officer (OCIO) by the £1.2bn Plumbing & Mechanical Services (UK) Industry Pension Scheme.
The appointment followed a competitive process and is aimed at helping Plumbing Pensions move towards long-term financial stability for its members.
WTW will work with the scheme’s strategic investment advisor, Aon, and the scheme actuary to create an integrated investment approach.
The aim is to deliver reliable returns, improve risk management, and support the scheme as it moves towards a buy-out.
Barnett Waddingham supported the trustee during the OCIO selection.
Jon Bridger, chair of trustee at Plumbing Pensions, said: “We were impressed by WTW’s deep understanding of our scheme’s unique needs and their ability to tailor a solution that balances resilience with long-term value creation.
“Their collaborative and innovative approach gave us confidence that they are the right partner to help us navigate the next phase of our journey.”
Ben Johnson, senior director at WTW, said: “We are delighted to have been selected by Plumbing Pensions as their OCIO partner.
“Our integrated and low-risk approach is designed to deliver the outcomes that matter most to the Trustee, the employers, and members – paying pensions reliably, managing downside risk effectively, and progressing toward buy-out in a controlled and transparent way.
“Our integrated and low-risk approach is designed to deliver the outcomes that matter most to the Trustee, the employers, and members.”
Johnson added: “We are excited to partner with the Trustee to deliver the consistent, risk-adjusted returns needed to support the Scheme’s long-term goals.”
