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Local government schemes hire 6 investment consultants

01 May 2013

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A number of Local Government Pension Schemes (LGPS) have established a multi-provider framework agreement to provide investment consultancy services.

Norfolk County Council set up the tender on behalf of a number of other contracting authorities to create a national framework agreement, which can be used by all LGPS administrating authorities.

The six appointed investment consultants are expected to review the schemes' investment strategy and investment management structure, to advise on the annual pension fund report, to some counsel on controlling investment costs and to help with corporate governance and socially responsible invest policies, among other roles and duties.

The contract was awarded to Aon Hewitt, Deloitte Total Reward & Benefits, Hymans Robertson, JTL Benefits Solutions, KPMG and Mercer after six offers were received.

The tender was made on behalf of Cambridgeshire County Council, Northamptonshire County Council, Lincolnshire County Council, Buckinghamshire County Council, the London Borough of Hackney and the London Borough of Croydon.

First published 01.05.2013