Sandvik AB develops global pension risk management strategy

Sandvik AB is to develop a global pension risk management strategy in over 15 countries.

The global engineering group, headquartered in Sweden, has appointed Mercer to provide multiple global actuarial, pensions and benefits services for over 40,000 employees internationally.

As well as developing the global pension risk management strategy, Mercer will also act as defined benefits (DB) administrator in four large markets (Canada, Germany, the UK and the US), will manage the organisation’s benefits globally, and will support the firm’s initial phases of global defined contribution (DC) scheme management.

Tomas Nilsson Rofes, vice president, compensation and benefits at Sandvik AB, said: “Sandvik has been seeking a single provider to manage its global benefits package for its workforce, to enhance good governance and manage costs across the organisation.”

Per Myklestu, global client manager and Mercer’s Nordic market leader, added: “This is a global cross-business win for Mercer spanning our retirement, risk and finance, investment consulting, health and benefits, and outsourcing businesses.”

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