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.
Pension freedoms could generate as much as £1.9bn a year in tax revenue for the next 10 years, according to research by the Pensions Policy Institute (PPI).
The Pension Protection Fund (PPF) has conceded it does not have "all the data we need to calculate" the impact of last month's ruling that some benefits may be unlawful.
A looming court decision on gender equalisation of pension schemes could hit FTSE 100 profits by up to £15bn, Lane Clark and Peacock (LCP) says.
Dutch custodian KAS Bank has created a fintech solution to help schemes save on costs and improve transparency of currency hedging strategies.