Durham University tenders pension services
UK - Durham University is seeking a provider for a range of services to its pension scheme including actuarial services and consultancy.
The £53.8m (€62.6m) University of Durham Retirement Benefits Plan is a defined benefit (DB) scheme operated by the institution for those employees that do not fall under the larger Universities Superannuation Scheme (USS).
It is now tendering a five-year contract for the provision of pension support services such as administration, pension scheme record management, consultancy, investment and actuarial services.
The university has the option of extending the contract for a further two years if required, and the successful candidate will be expected to take up the role from 1 April 2010.
Figures from the university's annual report for 2008 showed at 31 July last year the scheme was valued at £53.8m, with a deficit of £524,000 against a surplus of £1.96m in 2007, with the asset allocation of the fund split between bonds, equities and cash.
The deadline for tender applications is 14 August 2009 and further information can be obtained from the University of Durham's procurement department.
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