CA300 (2025) – Provision of Pension Accounting Advisory Services and management of pension liabilities, including advising the company in relation to triennial scheme funding valuations

NIE Networks wishes to enter into a Framework Agreement with one suitably qualified and experienced organisation to provide management of pension liabilities, including advising the company in relation to triennial scheme funding valuations. The service provider will provide a primary point of contact for NIE Networks.

NIE Networks have a requirement for an experienced pension advisor to provide the

following services (assignments) to the company three times in each annual period to meet International Accounting Standard 19 ‘Employee Benefits’ (IAS 19) requirements for a) annual published accounts, b) interim published accounts and c) published regulatory accounts:

• Formal terms of reference for each exercise,
• Provision of advice and methodology in relation to financial and demographic assumptions to be used in IAS19 exercises,
• Discussion with the company of approach to each exercise including assumption setting and accounting treatment of various items,
• Provision of IAS19 calculations and disclosure requirements,
• Preparation of formal reports to meet all IAS19 reporting and disclosure requirements

In addition to the pension accounting services, additional advisory services are required so that the company can meet its requirements in managing pension liabilities, including advice in relation to triennial scheme funding valuations, reviewing the investment strategy of the scheme and implementing the scheme’s long-term funding objectives.

The Framework will be established for an initial period of 5 years with an option (exercisable entirely at NIE Network’s Discretion) to extend for up to 3 further years (a maximum of 8 years).