Transport for London re-appoints corporate actuarial adviser

Transport for London (TFL) has re-appointed Punter Southall as its corporate actuarial adviser following a selection exercise.

Punter Southall will continue to provide strategic advice on TFL’s pension arrangements and the impact of any changes in legislation.

The TFL pension fund has over 80,000 members with assets of around £5 billion.

Punter Southall will also advise TFL in relation to its triennial actuarial valuations, the next of which is due in 2012, and continue to support it’s annual accounting exercise in line with the IAS 19 standard.

Stephen Field, head of pensions at TFL, said: “We are pleased that Punter Southall will continue in its role as our corporate actuarial adviser.

“Their expert advice and personal approach will continue to be of the utmost importance to us as we develop our relationship further.”

Andrew MacRae, principal and head of Punter Southall’s Guildford Office, added: “Punter Southall is looking forward to continuing to work with Transport for London.

“To have such a high-profile organisation as a client, whose scheme is one of the largest of its kind in the UK, is a great achievement for the team and reflects Punter Southall’s ability to provide specialist actuarial advice to clients of all sizes.”

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