Actuarial services

Tender description

Fife Council is responsible for the administration of the Local Government Pension Scheme on behalf of 5 scheduled and 24 admitted bodies. The Fund has 16 247 active members, 10 246 deferred members and 11 989 pensioners. The market value of the Fund as at 23.3.2017 was 2,242.565m GBP. Fife Council is responsible for the administration of the Local Government Pension Scheme on behalf of 5 scheduled and 24 admitted bodies. The Fund has 16 247 active members, 10 246 deferred members and 11 989 pensioners. The market value of the Fund as at 23.3.2017 was 2,242.565m GBP. The next actuarial valuation is due as at 31.3.2017. There are currently national discussions around Pension Fund Shared Services, therefore this tender will be issued for one year with option of up to 3 further extension periods of up to 1 year to ensure that Fife Council Pension Fund is covered by a contract but is not tied in for a long period should amalgamation be progressed.