UK - The East London borough of Barking and Dagenham's council is tendering for the provision of pension fund investment and actuarial advice services.
The contract which is currently held by Hymans Robertson covers 5,253 of the council’s present 8,500 employees.
The contract is currently worth £180,000 over three years before VAT, but as the councils is seeking to cut costs, the new contract would only net the winner £120,000.
A spokesman for the council said the Hymans Robertson contract had expired and the council was duty-bound to put the contract out to tender.
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.