UK - Northamptonshire County Council Pension Fund is to split its investment and actuarial consulting mandate, currently held by Mercer.
He added there were no circumstances related to Mercer's performance which had spurred the decision to tender.
The spokesman said: "It is the council's policy and the pension fund administrator's duty to ensure value for money, one approach to this is to ensure that bought in services are open to regular competition."
The pension fund awarded a £56m (US$109.7) fund of hedge funds mandate to Fauchier Partners in 2007.
The fund's total assets under management at the end of June 2007 was £1bn. Its currently holds 34.5% in UK equities 34.5%, 34.5% in overseas equities, 8% in property 7.8% in bonds, 10.2% in gilts and 5% in hedge funds.
The Department for Work and Pensions (DWP) has launched a website dedicated to signposting people to where they can receive guidance typically associated with a so-called 'mid-life MOT'.
This week's edition of Professional Pensions is out now.
Ben Gunnee reflects on 2018 and talks about the Fiduciary Management trends to keep an eye on in 2019
Lloyds Banking Group secured 630,000 new pension customers last year, according to its 2018 annual results.