Purpose

Under The Local Government
Pension Scheme Regulations 2013: 62 (1) An administering authority
must obtain-
(a)        an actuarial
valuation of the assets and liabilities of each of its pension
funds as at 31st March 2016 and on 31st
March in every third year afterwards;
(b)        a report by an
actuary in respect of the valuation; and
(c)        a rates and
adjustments certificate prepared by an actuary
 
The Council is the
“administering authority” for the Croydon Pension Fund.
A fund of Croydon’s size (£1.5bn of assets, 30,000
members and 100 employers) needs to be able to call on actuarial
services both to fulfil its statutory duties and to have access to
advice on a permanent basis.
 
 
Decision Required
 
The Corporate Director of
Resources & S151 Officer to approve the contract award for the
procurement of Actuarial Services for the Pension Fund.
 

Content

RESOLVED:
 
To approve the award of a contract for the delivery
of Actuarial Services for a period of 6 years at a value stated in
the Part B report.
 
Note the contractor name and contract value will be released following
contract award.