mast image

Special Report

Impact investing


University of Glasgow awards mandate to PwC

Related images

  • University of Glasgow awards mandate to PwC

UK - The University of Glasgow has appointed PricewaterhouseCoopers to conduct its scheme administration and actuarial consultancy services.

The University of Glasgow Staff Pension Scheme - for employees not covered by the Universities Superannuation Scheme (USS) - tendered for one or more providers in December to deliver "pension schemed admin and related Services and/or actuarial and consultancy services".

The pension fund currently employs Hymans Robertson for scheme administration duties while Mercer acts as scheme consultant and actuary, alongside I L Seller. (See earlier IPE article: Glasgow university seeks actuarial and admin support)

However, the University has awarded the three-year contracts to PwC following the tender process, which resulted in 18 applications, on the basis of a range of criteria including evidence of ability to provide advice, and cost and transparency.

Latest figures from the university's financial statement showed the value of the scheme's assets dropped from £170.7m (€188.1m) in July 2007 to £162.4m a year later, causing the pension deficit to almost double from £37.3m to £56.4m.

The university blamed the increased deficit on the £24.7m "actuarial loss on pension assets" over the year, although it noted employer contribution rates  increased to 25.5%  from 1 April 2008 following the last triennial actuarial valuation in March 2007.

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

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2559

    Asset class: Multi Assets.
    Asset region: -.
    Size: EUR 15m (may be split into two mandates EUR 7.5m).
    Closing date: 2019-09-06.

  • QN-2560

    Asset class: Private Equity.
    Asset region: Global.
    Size: $40m.
    Closing date: 2019-08-30.

  • QN-2561

    Asset class: Infrastructure.
    Asset region: Global.
    Size: $40m.
    Closing date: 2019-08-30.

Begin Your Search Here