UK -The £970m (€1.52bn) Derbyshire County Council Pension Fund has re-appointed Mercer Human Resource Consulting as its actuary.

The three-year contract went to the "most economically advantageous tender", the county in northwest England said.

It reached the decision with commercial criteria weighing 50%, qualification and experience 20% and delivery to agreed timescales as well as price both weighing 12.5% each.

The initial estimated total value of the contract is £150,000 excluding VAT.

Under the regulations for Local Government Pension Schemes (LGPS), an actuarial valuation of the fund is required every three years. The next one is due at the end of this week.