TFL pension fund reappoints 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.

Towers Watson is to provide actuarial and investment advice to the TFL pension fund’s £5.5 billion defined benefit (DB) scheme.

Stephen Field, head of pensions and fund secretary at TFL, said: “In a very competitive marketplace Towers Watson’s commitment to, and thorough understanding of, our fund will guide us through the next phase of strategy.”

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Chris Ford, Europe, Middle East and Africa (EMEA), head of investment at Towers Watson, added: “We are delighted to have been appointed as investment advisors to the TFL pension fund and to have retained the actuarial appointment.

“The TFL pension fund is a significant investment client for us and we look forward to providing it with investment advice.”