Hewitt Associates has launched Global Risk Services, a new initiative that will help pension plan sponsors manage the risks they face.

Launched jointly in North America and the United Kingdom, Global Risk Services will help organizations optimize the risk-reward equation in the fast changing retirement plan landscape.

“Events in financial markets in recent months have given a stark reminder of the centrality of risk to many organizations,” says Andy Cox, head of global benefits consulting at Hewitt. “In a very short period of time, we have seen major changes in the way in which risk is perceived and how companies react in terms of the financing of their pension plans.”

The two new tools being introduced by the Global Risk Services team are the Pension Risk Index and the Pension Surplus Index.

The Pension Risk Index gives a snapshot assessment of the risk a company faces as a result of its pension plan exposures—looking both at balance sheet vulnerability and potential impact on earnings.

The Pension Surplus Index is an interactive series of indices, showing the aggregate pension plan funded status for companies in the Fortune 500, FTSE100 and other market indices.

To comment on this story, email craig.sebastiano@rci.rogers.com.

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

Join us on Twitter