The UK government actuaries de-partment (GAD) has won a tender to review the liabilities of two Greek government auxiliary funds as re-quired by Greek law.

Differing groups of employees are protected by different auxiliary funds, explains Andrew Young, directing actuary at GAD, as part of what is known as the IKA pension system.

The department will examine the liabilities of the general workers fund and of the fund for public sector employees.

Describing the project as a fascinating one, Young says: Our role is to look at the short and long term sustainability of the funds.""