Decision details

Actuarial Service Contract

Decision Maker: Director of Finance

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

The council requires the provision of actuarial advice and valuation work in relation to the Brent Pension Fund.  It has been determined that the most appropriate means of providing this service to the Brent Pension Fund is through the procurement of a contractor by way of a Further Competition under National LGPS Frameworks Lot 1 - Actuarial Services.

Decision:

That the Director of Finance:

 

i)             Approves the award of contract for Actuarial Services for 3 years with the option to extend for two 1-year periods to Hymans Robertson LLP under National LGPS Frameworks Lot 1 – Actuarial Services.

Reasons for the decision:

As detailed within the accompanying report.

Alternative options considered:

As detailed within the accompanying report.

Interests and Nature of Interests Declared:

None.

Reason Key: Signficant expenditure/savings of £500k or more;

Wards Affected: (All Wards);

Cabinet/Committee Decision or Scheme of Delegation: Officer scheme of delegation

Parties Consulted: As detailed within the report.

Contact: Sawan Shah, Senior Finance Analyst Email: sawan.shah@brent.gov.uk Tel: 020 8937 1955.

Publication date: 15/10/2021

Date of decision: 14/10/2021

Effective from: 23/10/2021

Accompanying Documents: