The Pensions Trust has appointed new actuarial consultants after a re-tendering process.
The Trust, which manages occupational pension funds for employees in the charity and not-for-profit sector, is now working with HSBC Actuaries and Consultants.
Steve Robinson, actuarial director of HSBC's northern actuarial consulting practice, has been selected to be the Trust's actuary.
Actuaries act as advisors to pension funds, forecasting future financial trends to aid business planning.
HSBC will succeed Watson Wyatt, the Trust's previous actuarial consultants.
Pensions Trust chief executive Richard Stroud said: "This is a very exciting opportunity for the Trust. We have created one of the largest and most successful multi-employer pension funds in the UK with our current actuarial consultants, Watson Wyatt, and we now look forward to building on this work with HSBC."
Despite the loss, Watson Wyatt has been retained as the Trust's investment consultant.