CS1039 A & E - Specialist Actuarial Consultancy

Description

CS1039 A - Funding Framework Review Specialist actuarial consultancy services to undertake an independent review of the Pension Protection Fund's Funding Framework. The review will assess the framework's objectives, risk thresholds, methodology and governance arrangements, taking account of significant changes in the operating environment since the framework was last published in September 2022. The services will support the development of an updated funding strategy and associated governance framework. CS1039 E - Long-Term Risk Model (LTRM) Review Specialist actuarial consultancy services to undertake an independent review of the PPFs Long-Term Risk Model (LTRM). The LTRM is a key model used to assess the PPF's long-term funding position and associated risks and has evolved considerably since its original development, including a transition from Excel/VBA to the Tyche platform in 2019. The review will assess the model's methodology, implementation, controls and governance to provide assurance that it remains robust, reliable and fit for purpose in supporting the PPF's funding strategy and risk management objectives.