UK – The Nuclear Decommissioning Authority, the body charged with cleaning up the UK’s atomic energy industry, has tendered for investment consulting services for the proposed Nuclear Decommissioning Industry-wide Pension Schemes (or IWS).

The scheme is looking for advice on governance and compliance, the development of investment policy and investment strategy.

And the consultant would also advise on the appointment of investment managers and manager structure. Other areas are performance monitoring and transition management.

The contract is for 12 months, with an option to extend it in 12-month increments. An envisaged five managers will be shortlisted.

The IWS will be a new trust based multi-employer pension scheme providing defined benefit for active members who will join from existing employers within the nuclear decommissioning industry.

It will have up to 15,000 active members once fully established, although initial numbers are likely to be around 1,000.

Last month the NDA tendered for third-party pensions administration services for the IWS.

At the end of December the NDA announced it had awarded Deloitte Total Rewards and Benefits a contract to provide actuarial consultancy advice for the new schemes.

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