Changes at Hymans Robertson public sector team

Barry McKay

Glasgow-based pensions and benefits consultant Hymans Robertson said it appointed Barry McKay as Head of Local Government Pension Scheme (LGPS) Actuarial, working alongside David Walker as Head of LGPS Investment and Ian Colvin as Head of Benefits Consulting.

McKay is an actuary and has been with Hymans Robertson since 1996.

He advises some of the largest LGPS funds in the UK.

McKay said: “I’m delighted to take on the new role of Head of LGPS Actuarial, ensuring that the technology and actuarial services we provide to our clients keep pace with their changing needs.

“We’re just coming out of the triennial valuation cycle for LGPS schemes.

“One of my main priorities will be reflecting on how we can make the next round easier for funds.

“As an industry we need to be moving towards a target of straight through valuations.

“The triennial valuation will become a straightforward three yearly health check as opposed to a lengthy time consuming process.

“Using our innovative technology we can make life easier for our clients, reduce resource requirements and help the LGPS run more smoothly and cost effectively.”

Hymans Robertson said John Wright, Head of Public Sector, will continue to focus on “helping clients respond to industry issues and change, as well as having oversight of the development and delivery of its actuarial, investment and benefits services for public sector clients.”

Wright said: “We are very fortunate to have the strength of Barry, David and Ian in their respective specialist areas, supported by a strong and cohesive leadership team.

“This ensures we can serve clients across the breadth of their needs with deep expertise, and that the services we provide continue to be market leading.

“Succession planning is managed carefully at Hymans. We’ve been working towards this model for some time, with a gradual transitioning of client responsibilities.

“So I have been able to focus on helping our clients navigate the ever-increasing array of changes and challenges in public sector pensions.

“The government’s initiative to encourage schemes to pool investments is just one example.

“Not only are we very well placed to continue providing an excellent level of service to our clients, we are in the strongest position to help them respond to industry-wide changes, increasingly complex employer needs and new levels of regulatory scrutiny.”