The Bank of New York Pension Plan appoints Hymans Robertson to advisory role

The Bank of New York Pension Plan appoints Hymans Robertson to advisory role

The trustees of The Bank of New York Pension Plan have chosen Hymans Robertson, to provide defined contribution investment advice to the £450 million plan.

According to Hymans Robertson, the trustees of The Bank of New York Pension Plan were keen to appoint a consultant that could bring innovation to their approach, particularly in what they can do in practical terms to improve member outcomes and engagement.

Hymans Robertson will begin by undertaking a comprehensive investment strategy review to ensure this meets the changing needs of the plan’s membership.

Commenting on the appointment, John Johnston, chair of the trustees at The Bank of New York Pension Plan, commented: “When we undertook this review we were looking for a consultant to provide fresh ideas and a healthy challenge to the way in which we were working to evolve our investment strategy. The team at Hymans Robertson demonstrated that they can provide this to help us deliver the best possible outcomes for our members.”

“We felt they would complement our board’s expertise, particularly in their understanding of the need for changes to the strategic approach in the lead up to decumulation given the evolving pension landscape.”

Adding to this, Raj Shah, head of defined contribution investment at Hymans Robertson, said: “We are thrilled to be working with a trustee board that has a real appetite for innovation and a willingness to discuss and consider new ideas. We will be creatively developing new strategies that will improve members’ retirement incomes.”

“By choosing to work with us, the trustees will be working with a team that thrives on constantly reshaping their views and insights based on the latest pension developments to ensure that its thinking is at the forefront of the industry.”

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