PCCW adds Schroders to DC lineup

Hong Kong telecom corporation PCCW has hired Schroder Investment Management to serve as one of two defined-contribution service providers to its approximately 8,000 participating employees, says Lloyd Fischer, a finance and pensions adviser to the company. PCCW converted a defined-benefit scheme to DC in November, 2005. It already had a DC scheme as well, with terms more generous than available under Hong Kong's Mandatory Provident Fund system. Fidelity Investments was its sole DC pro…