On the go: The Agriculture and Horticulture Development Board has appointed an actuarial adviser for its two legacy defined benefit schemes, the circa £25.4m Home-Grown Cereals Authority Pension Plan and the circa £203.2m Meat and Livestock Commission Pension Scheme.
Following a search launched on the UK government’s Find a Tender website, the board has appointed Mercer to provide actuarial advisory services to the two schemes.
Mercer was awarded contracts for both lot one and lot two of the search. Lot one is for the provision of actuarial advice on funding, accounting, strategy and related services in respect to the HGCA and MLC schemes. According to the award notice, six tenders were received for lot one.
Lot two is for the provision of IAS19 calculations for the MLC scheme only. Seven bidders applied for lot two.
The original search notice stated that the contracts for lot one will run for three years with the option for a further three annual extensions, while lot two will run for two years with the option for two annual extensions.
Separately, the latest triennial actuarial valuation for the MLC scheme is due as at March 31 2021.
Mercer acts as fiduciary manager to the MLC scheme, which also holds buy-in policies with Aviva and Just Group.
The manager roster for the HGCA plan comprises CQS, BMO Global Asset Management and Columbia Threadneedle Investments.
This article originally appeared on MandateWire.com
