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CS1039 A & E - Specialist Actuarial Consultancy

Pension Protection Fund

This public procurement record has 2 releases in its history.

Award

07 Oct 2026 at 14:41

UK7 - Contract Details Notice
Award

07 Oct 2026 at 14:27

UK6 - Contract Award Notice
Summary of the contracting process

The Pension Protection Fund commissioned specialist actuarial consultancy for two independent reviews: its Funding Framework and its Long-Term Risk Model. The framework review covers objectives, risk thresholds, methodology and governance, taking account of changes since the framework was last published in September 2022, and will support an updated funding strategy and governance framework. The model review examines the methodology, implementation, controls and governance of the model used to assess the Fund’s long-term funding position and risks, including its evolution from Excel/VBA to the Tyche platform. The purpose is to provide assurance that the framework and model remain robust and fit for funding strategy and risk management. The work is for the Fund and is delivered in the United Kingdom. This is actuarial consultancy services (CPV 66519600).

The procurement is complete and awarded to Aon Solutions UK Ltd. The award was made on 11 May 2026 for £249,500 gross. The contract was signed on 7 October 2026 and runs from 8 October to 31 December 2026. The requirement was procured through a selective procedure as an award under a framework, and was not a competitive framework call-off. The procurement was divided into one lot covering both reviews. The award is active, and the contract is active. The stated scope calls for independent reviews of the Funding Framework and Long-Term Risk Model; the published process information does not set out further evaluation criteria or bidder eligibility conditions.

For actuarial consultancies, this award shows the Pension Protection Fund buys independent specialist assurance across both funding strategy frameworks and long-term risk models. A credible competitor for comparable work would need to review objectives, risk thresholds and methodology, alongside governance, controls and implementation, and turn findings into practical support for an updated funding strategy. Relevant experience would include assessing models used to understand long-term funding positions and associated risks, including systems that have evolved from spreadsheet-based tools to platforms such as Tyche. The supplier must be able to provide sufficiently independent scrutiny and assess whether complex actuarial frameworks and models remain robust, reliable and fit for purpose. The appointment was made through a framework award, so framework access and the ability to compete for call-offs are commercially relevant to suppliers targeting this buyer’s specialist actuarial consultancy needs.

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Notice Information

Notice Title

CS1039 A & E - Specialist Actuarial Consultancy

Notice Description

CS1039 A - Funding Framework Review Specialist actuarial consultancy services to undertake an independent review of the Pension Protection Fund's Funding Framework. The review will assess the framework's objectives, risk thresholds, methodology and governance arrangements, taking account of significant changes in the operating environment since the framework was last published in September 2022. The services will support the development of an updated funding strategy and associated governance framework. CS1039 E - Long-Term Risk Model (LTRM) Review Specialist actuarial consultancy services to undertake an independent review of the PPFs Long-Term Risk Model (LTRM). The LTRM is a key model used to assess the PPF's long-term funding position and associated risks and has evolved considerably since its original development, including a transition from Excel/VBA to the Tyche platform in 2019. The review will assess the model's methodology, implementation, controls and governance to provide assurance that it remains robust, reliable and fit for purpose in supporting the PPF's funding strategy and risk management objectives.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0782d3
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/094821-2026
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK7 - Contract Details Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Award under framework
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66519600 - Actuarial services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£249,500 £100K-£500K
Contracts Value
£249,500 £100K-£500K

Notice Dates

Publication Date
7 Oct 20262 weeks ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
11 May 20265 months ago
Contract Period
8 Oct 2026 - 31 Dec 2026 1-6 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Pension Protection Fund
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
CROYDON
Postcode
CR0 2NA
Postcode Area
Croydon
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI6 Outer London - South
Small Region (ITL 3)
TLI62 Croydon
Delivery Location
Not specified
Local Authority
Croydon
Electoral Ward
Fairfield
Westminster Constituency
Croydon West

Supplier Information

Number of Suppliers
1
Supplier Name

Aon Solutions UK Limited

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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