Sutton Council has extended its contract with Hymans Robertson for actuarial services for another two years. The decision, disclosed at the Pension Board meeting on 23 October 2025, ensures continuity in the Fund's actuarial support until 30 September 2027.
Hymans Robertson's responsibilities include preparing valuations and setting employer contribution rates to ensure fund solvency and long-term cost efficiency. These rates are based on assumptions set by the administering authority, and consider both the Funding Strategy Statement (FSS) and Local Government Pension Scheme (LGPS) regulations. As part of the 2025 formal valuation, the Fund also carried out a review of the actuarial assumptions used for funding purposes in June 2025.
The extension was approved by council officers under delegated authority, as noted in the Governance and Risk Update. While the specific reasons for using delegated authority are not detailed in the meeting information, it implies that the decision fell within pre-approved parameters or thresholds within the Council's constitution.
The original contract was set to expire on 30 September 2025.