Actuarial valuation of public sector pension schemes

Actuarial valuation of public sector pension schemes

Contract value:£35,000 – £50,000. The results of these valuations will determine the future contributions to be paid by public service employers, and the determination of the cap to be placed on the cost of benefits from each scheme.Quality Assurance of actuarial valuation of public sector pension schemes

Reference number: Valn2012QA

Deadline date:19/04/2013

This deadline is for… Submission of written tender

Contract value:£35,000 – £50,000

Location where the contract is to be carried out: London Central London, EC4A

Is this suitable for smaller suppliers? No

Is this contract suitable for a voluntary, community and social enterprise organisations? No

Name of the buying organisation: Government Actuary’s Department

 

Description of the contract

Following the report by the Independent Public Service Pensions Commission (chaired by Lord Hutton), the Government Actuary’s Department (GAD) has been instructed to carry out actuarial valuations of up to 24 unfunded public service pension schemes (effective as at 31st March 2012 for most schemes, but as at 31st March 2013 for a small number of schemes). The total membership of those schemes (actives, deferred pensioners, and current pensioners in aggregate) is around 12 million. The results of these valuations will determine the future contributions to be paid by public service employers, and the determination of the cap to be placed on the cost of benefits from each scheme. The aim is that the results of the majority of the valuations should be available by the end of 2013. GAD is inviting tenders to carry out independent Quality Assurance of the actuarial analysis. Please see the supporting document for more details.

 

Classification of the contract

66519000 Engineering, auxiliary, average, loss, actuarial and salvage insurance services

 

Additional information

Contract type: Services – Unspecified

Is it a framework agreement? No

Is this contract related to a programme of funding? No

Contract will be awarded based on: Most economically advantageous tender in terms of: The criteria stated in the contract documents

Estimated length of contract: 12 Months

 

Who to contact

Contact name Bill Rayner

Organisation name Government Actuary’s Department

Address Finlaison House, 15-17 Furnival Street, London, UK, EC4A 1AB

Telephone 020 7211 2975

Extension number:

Fax

Web address www.gad.gov.uk

 

How to apply

Applications should be submitted in writing to Trevor Llanwarne, Government Actuary at trevor.llanwarne@gad.gov.uk. Full details are in the supporting document. Written submissions will be reviewed and a shortlist of candidates invited to attend an interview at the GAD offices on Monday 29th April. Presentation material will not be required at the interview.