UK - The City of Edinburgh is tendering for an actuary for its £1.9bn Lothian Pension Fund to conduct three triennial actuarial valuations in 2005 and 2008.
Lothian Pension Fund principal investment officer Colin Hay said the tender was the result of the end of a fixed term appointment.
The fund had decided to split actuarial and investment advice, he added.
“In line with Myners’ recommendations and best practice, actuarial and investment advice has been separated,” he said.
“This does not preclude either the existing provider re-applying or indeed them continuing to provide both after the tender process.”
Hay said he believed current provider Hymans Robertson had been with the fund since its inception in 1975.
The search is being conducted in-house and deadline for tender is November 11.
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