Consulting actuaries and administrators Punter Southall has today announced its appointment to provide full services to the trustees of CN Group, replacing Mercer.
In a competitive tender process, Punter Southall secured the mandate to provide all core pension scheme services, including actuarial, administration, benefit consultancy, Trustee secretarial and investment consultancy, to the newspaper group's defined benefit (DB) pension schemes.
CN Group has two schemes, totaling £21m with 650 members.
CN Group is an independent local media business based in Carlisle. Established in 1815, the Group now operates with three Divisions – Publishing, Radio and Print.
Speaking of the appointment Punter Southall's Gerry Devenney said:
“Our appointment by the Cumberland Newspaper Group is yet further evidence of our continued success in Scotland and the North of England in expanding Punter Southall's reach. We very much look forward to working with Andy and his team at CN Group.”
Speaking on the appointment of Punter Southall, Andrew Swanston, Finance Director at Cumberland Newspaper Group said:
“Punter Southall was appointed as administrators and advisers to the Company and Trustees following a rigorous tendering exercise. During this process Punter Southall has clearly demonstrated their understanding of our specific requirements and their ability to provide a cost effective, proactive service.”
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For media information related to Punter Southall, please contact:
Penrose Financial
Gay Collins/André Flemmings
020 7786 4882/4811
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