SBS Pension Services - Actuarial, Administration and Investment

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                "description": "he University of Edinburgh Staff Benefits Scheme is the Defined Benefit pension arrangement for support staff within the University of Edinburgh. Established in 1968, the current market value of the Scheme is circa 450million GBP and has approximately 1800 active, 2000 deferred and 2000 pensioner members.",
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                "description": "The Scheme Actuary requirements will be to carry out all statutory duties in respect of the Scheme's triennial valuation including but not limited to:- Actuarial valuation of the Scheme at least once every three years by a qualified scheme actuary, All actuarial certification required including rates of contributions, Annual funding updates, highlighting the financial implications of significant events and indicating changes in the level of coverage of the Scheme's liabilities by its assets since the last actuarial valuation and any implications for contribution levels,Actuarial factors used in the administration of the Scheme,Costing and confirmation of effect of any proposed benefit structure changes,Individual calculations as required,Collation of all information required for PPF levy and input of information to the relevant statutory body, and provision of PPF levy estimates,Assistance with contingent asset certification/recertification, Preparation of wording of summary annual report and summary funding statements and review of member documentation, Scheme Trust Deed and Rule, Provision of verbal/written reports for meetings as necessary, Provision of robust advice on regulations, best practice,operational practice and other pension matters, legislative changes and accounting issues and production of annual calculations and advice for University accounting disclosures, e.g. FRS102,Provision of any other such duties as may be required to meet legislative requirements. Tenderers may specify other recommendations for improvements in service delivery or quality.. Additional Consultancy service requirements but not limited to:- Develop and maintain the Scheme's Risk Register document, Attendance of Scheme Actuary at 4 pre-meetings with Chair of Trustee and 4 Trustee Board meetings per annum, Provision of relevant Trustee Training, drafting and/or reviewing documentation for the Scheme including Rule changes and member communications.",
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                "description": "Provision of a highly efficient service to members with robust workflow processes to facilitate a UK defined benefit pension arrangement,Provision of online modelling tools to allow members to produce self-service data for retirement planning,Provision of suitable data transfer mechanisms to allow upload of relevant member data from the University's central HR/payroll system, Provision of accurate and timely standard and ad hoc management information and reports, and other projects or services related to scheme administration, Provision of a dedicated named point of contact available for University staff supported by a team of experienced staff, Provision of a secure UK based administration system for data management with appropriate business continuity processes in place, Provision of a service that complies with the regulatory framework relevant to UK pensions and the SBS pension scheme Rules. Cash Management Operation and maintenance of the Trustee Bank Account including bank reconciliations and processing of payments, Maintaining a cashbook for recording payments and receipts. Pension Scheme Accounting Completion of Statutory Returns, Preparation of Annual Trustee Report and Accounts, Drafting and preparation of Annual Members' Report, Facilitation of Annual Audit. Pensioner Payroll General payroll management, Payslip and P60 production, Statutory changes/returns, Routine pensioner existence checks.",
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