In today’s global business environment, large organizations face increasing challenges in managing complex pension structures, meeting multi-jurisdictional compliance requirements, and delivering consistent, high-quality services across regions. With their global actuarial and benefits expertise, Milliman and MBWL helped a leading multinational imaging and IT corporation to deliver seamless, value-driven solutions.

The challenge

A multinational imaging and information technology (IT) leader managed more than 90 pension plans across 11 countries, with total liabilities exceeding US$2 billion.

The organization faced multiple challenges:

• Accuracy and efficiency: The company needed streamlined processes and greater confidence in its financial data.
• Complex compliance: Navigating diverse local regulations and accounting standards made reporting complicated.
• Strategic guidance: The organization required proactive advice to support its risk management and business transformation.
• Fresh perspective: After years with the same adviser, the client wanted innovative insights and new ideas.

The organization sought to streamline its actuarial and pension administration services, and its group treasury and procurement team offered a global competitive tender. Its requirements were clear, and the company sought a vendor that could offer:

• Global accounting consolidation for its pension liabilities
• Compliance with U.S. and international requirements for accounting and funding purposes
• Local actuarial appointments in each jurisdiction
• Pension administration for the United States, United Kingdom, and Germany
• A firm capable of delivering both technical excellence and strategic advice

The solution

Milliman and MBWL were chosen as the actuarial and administration vendor and implemented a structured, collaborative approach that included:

1. Global appointment and alignment
• Established as the global actuary and pensions partner across all countries.
• Defined clear governance structures for global and local coordination.
2. Rapid due diligence
• Conducted a fast, deep-dive assessment into plan specifics, risks, and existing processes.
• Identified pain points and immediate improvement opportunities.
3. Seamless transition
• Developed and executed transition plans for actuarial and pension administration services.
• Ensured zero disruption to ongoing operations and year-end reporting.
4. Transparent communication
• Maintained open, consistent communication with both global HQ and local teams.
• Provided no-surprise delivery and clear progress reporting.

The initial scope was also expanded, and Milliman and MBWL now provide the following value-added services to the client:

• Mid-year update to accounting disclosures, enabling proactive decision-making
• M&A support integrating pension due diligence into corporate transactions
• Special projects including de-risking calculations and targeted process improvements

The outcome

Thanks to Milliman and MBWL, the client saw measurable success:

• Fast, smooth transitions: All services moved to the new provider on agreed-upon schedules.
• Improved efficiency: Implementing best practices helped to streamline processes.
• Enhanced strategic insight: Proactive recommendations supported long-term transformation.
• Stronger global relationships: High client satisfaction was observed at both HQ and local levels.
• Ongoing growth: The relationship expanded to include new initiatives and strategic projects.

This case study demonstrates the power of a strategic, globally coordinated pension and actuarial partnership. By combining technical expertise, strong execution, and forward-looking advice, Milliman and MBWL not only met the client’s immediate needs but also positioned the company for sustainable, long-term success.