AHDB Actuarial Services

A Tender Notice
by AHDB

Source
Find a Tender
Type
Contract (Services)
Duration
3 year
Value
£360K
Sector
BUSINESS
Published
25 Mar 2021
Delivery
01 Aug 2021 to 31 Jul 2024
Deadline
30 Apr 2021 14:00

Concepts

Location

Kenilworth

Geochart for 1 buyers and 0 suppliers

1 buyer

Description

Actuarial advisory services are required by the Agriculture and Horticulture Development Board (AHDB), in respect of two legacy Defined Benefit pension schemes. This is distinct from the requirements of the schemes themselves which appoint their own actuary. AHDB is the sponsoring employer of the Home-Grown Cereals Authority Pension Plan (“HGCA Plan”) and the Meat and Livestock Commission Pension Scheme (“MLC Scheme”). 2.1.3 The procurement is split into two Lots: • Lot 1 – Actuarial Advice: the provision of actuarial advice on funding, accounting, strategy and related services in respect of the HGCA Plan and the MLC Pension Scheme • Lot 2 – IAS19 Calculation: to provide AHDB with IAS19 Calculations (or such calculations as are required under the prevailing pensions accounting legislation) for the MLC Pension Scheme only.

Lot Division

1 Actuarial Advice
  • Duration: 3 year
  • Value: £360K

• To support AHDB in managing the legacy pension arrangements, including the minimisation of volatility and cost. • Actuarial valuation – to support AHDB in discussions with the Trustees on triennial actuarial valuations, including agreement of funding assumptions. • Accounting services - to advise on assumptions and methodology to be used and comment on and query as appropriate IAS19 calculations provided to the employer by the Scheme Actuaries, or the Supplier for Lot 2, including supporting AHDB in discussions with the National Audit Office (NAO) who audit the report and accounts. • Ad hoc projects – to work with AHDB and the Trustees on other projects – for example, proposed pensions change consultations potential liability management exercises to reduce current and future risk.
2 IAS19 Calculation
  • Duration: 23 month

• To obtain from the Scheme and other advisors and hold an up-to-date member data extract, investment values, scheme basis/rules and other information as required to perform the relevant calculations (currently as per IAS19), with assumptions to be advised by AHDB or such agent as they see fit. • To provide annual year-end accounting figures and assumptions /methodology report for the MLC Pension Scheme, applying assumptions provided by AHDB (or its agent). Requirements to be performed within pre-agreed project plan timescales to ensure submission of accounts in an agreed timescale. • During the annual audit period, in line with the requirements of the bodies to which AHDB reports, all queries will need to be responded to within 24 hours (one working day).

CPV Codes

  • 66519600 - Actuarial services

Indicators

  • Restrictions apply to the lot award allocation.
  • Bids should cover one or more lots.
  • Bids should cover the whole contract.
  • This is a recurring contract.
  • Options are available.
  • Renewals are available.
  • Award on basis of price and quality.

Reference

Domains