ITT 37/2013 Provision of Pensions and Actuary Advice

Tender description

Liaison and engagement on behalf of Ofcom with the scheme actuaries for the Ofcom Defined Benefit Pension Plan and the ITC Plan, to provide key actuarial assumptions, information, advice, disclosures and explanations on all end of year IAS 19 accounting disclosures, in accordance with the guidance issued by the Board for Actuarial Standards (BAS) in the form of Technical Actuarial Standards (TASs). , Activities will include accounting disclosures and Provision of Notes and accounting entries for Year End accounts; preparation of pension accounting disclosures in accordance with IAS 19 for the Ofcom Defined Benefit Pension Plan and Ofcom’s unfunded benefit arrangement; provision of pensions advice to the Employer through liaison with Ofcom’s Finance Director, including advice on pensions investment strategy, advice and support to Ofcom’s HR Team on pensions matters affecting that affect colleagues. The provision of proactive, forward looking market intelligence on pensions and actuarial matters, that brings essential matters to Ofcom’s early attention and ensures that Ofcom is kept informed of market developments. The contract duration is three years with two options to extend by further periods of 12 months each, to a maximum contract period of five years. Service delivery is expected to commence in December 2013, when Ofcom shall start using the contract to call-off services as they are required.