Trustees of Thermo Fisher Scientific's three pension schemes have appointed Aon Hewitt as fiduciary manager.

Thermo Fisher Scientific's three UK schemes are Fisher Scientific UK Ltd Pension Scheme, Oxoid Pension Scheme and Thermo Fisher Scientific defined benefit (DB) Pension Scheme, and have combined assets of £270m and over 2,370 members.

Chair of trustees James Coley said: "The delegated consulting services platform enables the trustees to focus on strategy. Key decisions such as future flight plan are properly taken whilst avoiding the limitations that arise from the focus on short term market conditions and manager performance which so often beset schemes and conspire to prevent them turning opportunity into reality.

"Equally, the availability of a wider spread of actively managed asset classes appeals to the trustees' desire for a well diversified asset portfolio not usually available to smaller schemes."

Thermo Fisher Scientific provides analytical instruments, laboratory equipment, software and other services to the scientific industry, and operates in 21 countries around the world.

Tim Currell, Aon Hewitt investment consulting partner, said: "Aon Hewitt was chosen to work with the Thermo Fisher Scientific schemes after our fiduciary management services had successfully managed the US pension plan of the sponsoring employer.
"We are already working with the schemes on providing them with a well managed and diversified growth portfolio, as well as interest rate and inflation hedging. We also carry out daily monitoring and implementation of the schemes' funding level and implement yield triggers."

First published 12.12.2013

monique_simpson@wilmington.co.uk