UK - Punter Southall has secured two high-profile local authority actuarial wins in the wake of Watson Wyatt's decision to quit the market.
The £700m Buckinghamshire County Council Superannuation Fund and the £400m Corporation of London Pension Fund both appointed Punter Southall as their new actuary.
But Hymans Robertson is still leading the pack having picked up three Watson clients.
Hymans Robertson scooped another mandate to be actuary to the £650m Gloucestershire County Council Pension Fund.
And the £1.8bn Essex County Council Pension Fund appointed Mercer Human Resource Consulting as its actuary, effective November 1.
The £900m Durham County Council Pension Fund has also confirmed it will be appointing an actuary imminently.
These moves come in what is turning out to be a massive realignment of actuarial work in the local authority sector and follow Watson’s decision to quit the market in April.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
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