IRELAND - The Irish Office of the Comptroller and Auditor General (C&AG) is seeking a provider of actuarial services to assist a review of public service pensions.

The C&AG reports to the Dáil Éireann - the lower house of the Irish Parliament - on the way public funds are administered through the use of audits and value for money examinations, which are then considered by the Committee of Public Accounts.

A tender notice reveals the C&AG is now planning a review of Irish public sector pensions, culminating in a final report which will examine a number of key issues, including:

The current accrued pension liability, cash flow projections and the cost of providing for pensions in the public service The adequacy of pension information currently available for the management and administration of the various public sector pension schemes Whether there is potential for administrative efficiencies by better management of pension schemes The C&AG is seeking a provider of actuarial services for a six-month contract as a result, to help it carry out and report on the examination of the public service pensions.

Confirmation that the C&AG is going to review the cost and efficiency of Irish public sector pensions later this year, follows the government's admittance that the public service pensions liability had reached €75bn in 2007. (See earlier IPE article: Irish public sector pensions hit €75bn)

In addition, last month the Irish Business and Employers' Confederation (IBEC) called on the government to introduce "radical" public sector pension reform, including the introduction of a cap on contributions. (See earlier IPE article: IBEC calls for 'radical' public pension reforms)

Closing date for submitting applications to the actuarial services tender is July 11 2008.

If you have any comments you would like to add to this or any other story, contact Nyree Stewart on + 44 (0)20 7261 4618 or email