Norfolk County Council Pension Fund, Norwich, England, hired 10 providers for its multiprovider framework for actuarial, benefits and governance consultancy services.
The £3.6 billion ($5 billion) pension fund, on behalf of a group of other local government pension schemes and other public-sector funds, appointed the firms across five separate areas: actuarial services, benefits consultancy, governance consultancy, funding risk advisory services and consultancy services to support specialist projects. The appointments are effective this month, according to a notice on the National LGPS Frameworks website.
For actuarial services, the funds appointed Aon Solutions U.K., Barnett Waddingham, Hymans Robertson and Mercer — all rehired from the previous framework agreement in 2016, according to a document on the National LGPS Frameworks website.
For benefits consultancy services, the funds again rehired the same four providers: Aon, Barnett Waddingham, Hymans and Mercer.
For governance consultancy services, Aon, Barnett Waddingham, Hymans and Mercer were rehired and Muse Advisory was also selected. The 2016 framework also included KPMG.
Funding risk advisory services — a new contract — will be provided by Aon, Barnett Waddingham, BDO, Hymans, Mercer and PricewaterhouseCoopers.
The final contract, for consultancy services to support specialist projects, was awarded to Aon, Barnett Waddingham, Equiniti, Hymans, Mercer and PwC — all of whom were rehired. The funds also hired Deloitte and the Government Actuary's Department as providers. KPMG was a provider under the 2016 framework.
An executive at National LGPS Frameworks confirmed the hires. The search for the new providers was launched in January.