Purpose

Approval of the procurement strategy for Actuarial Services - Pension Fund

Decision

1. Appendix 1 is not for publication on the basis that it contains information relating to the financial or business affairs of any particular person (including the authority holding that information) as set out in paragraph 3 of Schedule 12A of the Local Government Act 1972 (as amended).
2. The Executive Director of Finance and Corporate Services in consultation with the Lead Cabinet Member for Finance and Reform is asked to approve H&Fs participation in the joint procurement exercise and the procurement strategy for a new contract for Actuarial Services – Pension Fund.
3. A further competition will be initiated through Lot 1; Actuarial Services of the Norfolk County Council’s Local Government Pension Scheme (LGPS) Framework for Actuarial, Benefits and Governance Consultancy Services.
4. The initial contract term will be for a period of six (6) years with the option for extension by four (4) further periods of one (1) year. H&F will enter into its own separate contract with the Preferred Supplier. The estimated total contract is set out in Appendix 1 of this report.