Hewitt Associates SA, Greece’s biggest actuarial firm, has said it will not bid for a contract to appraise 40 public pension funds. The study is a requirement under Greece’s euro110 billion (USD151 billion) bailout backed by the International Monetary Fund and European Union. The firm has cited a lack of reliable data, time constraints and poor rewards for completing the study, which is due on Feb. 1, as reasons for its decision, Bloomberg reports.

    About the author

    • Ma. Rizza Leonzon

      As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.