Actuarial services

Tender description

Actuarial services to equalise guaranteed minimum pensions for Members and the application of a Statutory Minimum. A service to calculate the uplift in benefits (if any), plus any arrears due (where relevant) in respect of GMP equalisation (and the underpin) for the remaining members of the ‘backbook’ of the PPF. The backbook comprises members of schemes which transferred to the PPF prior to 1.6.2013 and contracted out via the GMP method. A small number of schemes that transferred after 1.6.2013 that were given permission to transfer before equalising for GMPs are also included in the scope. The following optional services may be provided by the Service Provider upon written agreement by the Parties; Average Approaches, Extra Data Validation, Additional Calculations and Amendments to the Build.