Issue - meetings

Report FSD17068

The Committee considered a report setting out proposals to re-tender the Council’s contract for the provision of actuarial services for a period of six years, with an option to extend for a further period of three years. With a potential nine year contract term, the total value of the contract was estimated to be approximately £1,080k (based on estimated activity levels) and, in accordance with the Council’s Contract Procedure Rules, the approval of the General Purposes and Licensing Committee was therefore required to enable the procurement process to commence.

Amended recommendations had been circulated proposing that the decisions be referred to the Pensions Investment Sub-Committee. The Chairman suggested that, in future, meetings of the Pensions Investment Sub-Committee should be scheduled to take place just before the General Purposes and Licensing Committee.

RESOLVED that authority be delegated to the Pensions Investment Sub-Committee to –

(i)  agree that the contact for the Council’s actuary be tendered and the tender process to be followed;

(ii)  agree the contract period, including any optional extension periods;

(iii) award the contract following the tender process; and

(iv) agree the approval process for any optional contract extensions.