Middlesbrough Borough Council appointed Aon Hewitt to provide actuarial advice to Teesside Pension Fund.

Aon Hewitt will be working closely with the council to help it manage the £2.5bn fund, which has over 60,000 members.

Paul Campbell, head of investments and treasury management at Middlesbrough Borough Council, said: "Aon Hewitt put forward the best overall package of quality and value for money for actuarial services in the framework's mini competition. We look forward to working with them over the next seven years of the contract."

Middlesbrough Borough Council is one of the first Local Government Pension Scheme administrating authorities to obtain actuarial services through a national framework arrangement established in 2012 by Norfolk County Council.

The framework was established to help Local Authority Funds to get actuarial and benefits services more quickly and effectively.

Tim Lunn, head of the UK public sector actuarial team at Aon Hewitt, said: "Aon Hewitt's appointment to provide actuarial services to the Teesside Pension Fund via the recently established National Framework Arrangement is a strong endorsement of the strength and depth of our Public Sector Team, as well as the quality and value of our advice. We are looking forward to working with the fund over the coming years."

First published 25.03.2013

monique_simpson@wilmington.co.uk