UK - The London Pension Fund Authority is tendering a mandate for actuarial services to support its work in managing pensions.

The LPFA has been hired in the past to offer actuarial services to London's local authority pension schemes however the service is itself seeking actuarial support to produce key elements of its own pensions management.

A tender notice issued by the body states an actuary has many duties to fulfil which include conducting triennial valuations, FRS17 valuations, as well as providing FRS17 advice to individual employing authorities within the funds and producing short actuarial statements such as those required for annual accounts.

The contract could last six years but the LPFA says in the first instance the successful bidder will be required to maintain the tender until at least 30 Jan 2009, according to LPFA documents.

Requests for obtaining specifications must be filed by 1 October and RFPs must then be filed by 29 October.

The LPFA manages pensions assets worth £3.7bn (€4.8bn) and is the pension administrator to over 73,000 members.

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