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Actuarial Benefits and Governance Services

London Borough of Lambeth

This public procurement record has 2 releases in its history.

PlanningUpdate

28 Oct 2026 at 16:38

UK1 - Pipeline Notice
Planning

21 Oct 2026 at 15:52

UK1 - Pipeline Notice
Summary of the contracting process

The London Borough of Lambeth intends to procure actuarial, benefits and governance consultancy services for its Pension Fund. The work includes triennial actuarial valuations, calculations of employer contribution rates, and pension accounting reports under IAS 19 and FRS 102. The provider will also advise on governance and regulatory matters, support the preparation of funding strategy statements, and undertake risk modelling and scenario analysis. Further tasks include guidance on legislative and regulatory changes, ad hoc calculations and template documentation. The procurement is for professional services delivered by a qualified actuarial provider. The council is the buying organisation. Its stated scope covers both recurring valuation and reporting work and ongoing advisory and calculation services related to the Pension Fund.

This procurement is at the planning stage: Lambeth has set out its intention to buy the services, but this is not an invitation to tender. The council expects to award through a mini-competition under the National Local Government Pension Scheme framework for actuarial, benefits and governance consultancy. The planned publication date for the next notice is 10 November 2026; this is the buyer’s expectation, not a deadline for suppliers. The estimated contract period is 1 April 2027 to 31 March 2037. The stated value is £800,000, with a gross value of £960,000. There is one planned lot. The buyer marks the procurement as suitable for small and medium-sized enterprises and voluntary, community and social enterprises.

This work is likely to suit actuarial consultancies with the qualified specialists and capacity to support a local authority pension fund across both scheduled valuation cycles and ongoing advisory requirements. Relevant expertise includes pension fund actuarial valuations, employer contribution setting, IAS 19 and FRS 102 accounting, funding strategy, governance and regulatory advice. Suppliers should also be able to model risks and scenarios, interpret legislative and regulatory changes, and provide ad hoc calculations and reusable template documents. The buyer explicitly identifies the single lot as suitable for SMEs and voluntary, community and social enterprises, so organisations in those categories may consider preparing to compete. The planned framework mini-competition route is a key consideration for firms assessing whether they can participate through the relevant framework.

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Notice Information

Notice Title

Actuarial Benefits and Governance Services

Notice Description

The Council requires a qualified actuarial services provider to deliver: * Triennial actuarial valuations of the Pension Fund * Employer contribution rate calculations * Accounting reports (IAS19 / FRS102) * Governance and regulatory advice * Support with funding strategy statements * Risk modelling and scenario analysis * Guidance on legislative and regulatory changes * Ad hoc calculations and provision of template documentation

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-078d31
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/102286-2026
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
UK1 - Pipeline Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
SME, VCSE
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66519600 - Actuarial services

Notice Value(s)

Tender Value
£800,000 £500K-£1M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
28 Oct 20265 days ago
Submission Deadline
Not specified
Future Notice Date
10 Nov 20261 weeks to go
Award Date
Not specified
Contract Period
1 Apr 2027 - 1 Apr 2037 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Planned
Lots Status
Planned
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
London Borough of Lambeth
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
SW2 1RW
Postcode Area
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI45 Lambeth
Delivery Location
Not specified
Local Authority
Lambeth
Electoral Ward
Brixton Acre Lane
Westminster Constituency
Clapham and Brixton Hill

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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