The U.K. Treasury is looking to hire between five and eight actuarial firms in order to carry out its plan to make repayments to customers of Equitable Life, Professional Pensions reports. The contract, estimated to be worth nearly £5 million, will be awarded by the end of June 2011.
The Treasury is seeking actuarial advice in relation to the calculation of payments to Equitable Life policy holders, as well as manipulating and communicating the outcomes of the actuarial model to the Treasury. Towers Watson has been appointed as actuarial consultants in 2010 the £1.5 billion Equitable Life Payments Scheme was launched, adds IPE.
Click here for the story from Professional Pensions.
Click here for additional coverage from IPE.
