Actuarial Services Framework

Multi Provider Framework Agreement for the Provision of Actuarial Services, Governance and Administration Support.

United Kingdom-Norwich: Group pension services

2016/S 051-085287

Contract notice

Services

Directive 2004/18/EC

Section I: Contracting authority

I.1)Name, addresses and contact point(s)

Norfolk County Council
County Hall, Martineau Lane
For the attention of: Julie Ward
NR1 2DH Norwich
UNITED KINGDOM
E-mail: sourcingteam@norfolk.gov.uk

Internet address(es):

General address of the contracting authority: www.norfolk.gov.uk

Address of the buyer profile: https://in-tend.co.uk/norfolkcc/aspx/Home

Further information can be obtained from: The above mentioned contact point(s)

Specifications and additional documents (including documents for competitive dialogue and a dynamic purchasing system) can be obtained from: The above mentioned contact point(s)

Tenders or requests to participate must be sent to: The above mentioned contact point(s)

I.2)Type of the contracting authority

Regional or local authority

I.3)Main activity

General public services

I.4)Contract award on behalf of other contracting authorities

The contracting authority is purchasing on behalf of other contracting authorities: yes

Wolverhampton City Council, Tower Hamlets Council, Lincolnshire County Council, the Environment Agency, Cumbria County Council, London Borough of Hackney.

Section II: Object of the contract

II.1)Description

II.1.1)Title attributed to the contract by the contracting authority:

NCCT40954 – Multi Provider Framework Agreement for the Provision of Actuarial Services, Governance and Administration Support and Consultancy Services.

II.1.2)Type of contract and location of works, place of delivery or of performance

Services
Service category No 27: Other services

NUTS code UK

II.1.3)Information about a public contract, a framework agreement or a dynamic purchasing system (DPS)

The notice involves the establishment of a framework agreement

II.1.4)Information on framework agreement

Framework agreement with several operators

Duration of the framework agreement

Duration in months: 48

Estimated total value of purchases for the entire duration of the framework agreement

Estimated value excluding VAT:
Range: between 15 000 000 and 350 000 000 GBP

II.1.5)Short description of the contract or purchase(s)

Norfolk County Council, on its own behalf and on behalf of Wolverhampton City Council, Tower Hamlets Council, Lincolnshire County Council, the Environment Agency, Cumbria County Council, London Borough of Hackney, wish to let a multi-provider framework agreement for the provision of Actuarial and Benefit and Consultancy Services in respect of the Local Government Pension Scheme.
The Services covered by this procurement are split into 4 Lots and providers may bid for 1 or more Lots.

II.1.6)Common procurement vocabulary (CPV)

66522000, 66523000, 66141000, 66519600, 75320000, 66131100

II.1.7)Information about Government Procurement Agreement (GPA)

The contract is covered by the Government Procurement Agreement (GPA): no

II.1.8)Lots

This contract is divided into lots: yes
Tenders may be submitted for one or more lots

II.1.9)Information about variants

Variants will be accepted: no
II.2)Quantity or scope of the contract

II.2.1)Total quantity or scope:

No Guarantee of business is given. The minimum figure below assumes that all the funds who have indicated an intention to use the framework do so. The maximum figure is based on a very widespread take up by funds eligible to use the framework.
Estimated value excluding VAT:
Range: between 15 000 000 and 350 000 000 GBP

II.2.2)Information about options

Options: no
II.2.3)Information about renewals

II.3)Duration of the contract or time limit for completion

Duration in months: 48 (from the award of the contract)

Information about lots

Lot No: 1 Lot title: Actuarial Services

1)Short description

The Provision of Actuarial Services.

2)Common procurement vocabulary (CPV)

66519600, 66523000, 66141000, 75320000, 66131100, 66522000

3)Quantity or scope

Actuarial services including but not limited to:
— Actuarial advice in relation to outsourcing / reshaping service delivery (Including staff transfers and changes in workforce profile).
— Advice on admission agreements.
— Actuarial advice to new or existing participating employers.
— Attendance at meetings as required by stakeholders.
— Support for and supply of scheme communication, advice and training for all associated stakeholders as required including but not limited to scheme members, pension boards, section 101 committees and employers.
— Completion of the triennial Actuarial Valuation exercise in accordance with the LGPS governing regulations (to include preparation of individual valuation positions for each participating employer).
— Funding Strategy Statement preparation and advice.
— Providing responses to auditors of administering authorities and participating employer bodies in respect of the financial reporting of Pensions and any other matters arising.
— Undertaking Asset Liability Studies (every three years or more frequently if required).
— Completion of Actuarial Valuation at the date of cessation of a scheduled body or an admission body to assess any termination liabilities arising.
— Annual accounting valuations of pension liabilities (in accordance with FRS17 (FRS102) / IAS19 requirements or any such standard as is in force) — including the calculation of opening positions for new employers.
— Preparation of pensions information on behalf of participating employers for inclusion in tender documentation when letting services that includes the transfer of staff who are members of the LGPS.
— Calculation of opening positions (level of assets and liabilities) for new participating employers and the calculation of the appropriate employer contribution rate at commencement.
— Calculation and actuarial advice relating to the consideration of an appropriate bond or other guarantee either where an authority is entering into a transferee admission agreement with a contracting party or other circumstance.
— Provision of appropriate actuarial factors as prescribed by the LGPS governing regulations e.g. strain costs on early retirement.
— Provision of modelling and projections in respect of underlying assumptions and strategy at a fund or employer level.
— Provision of funding and contribution strategy advice.
— Supporting unitisation and segregation (in support of employer specific funding strategy).
— To act as expert witness (in case of arbitration, regulatory or other).
— Covenant analysis and baseline risk management.
— Cashflow Modelling.
4)Indication about different date for duration of contract or starting/completion
5)Additional information about lots

Lot No: 2 Lot title: Benefits Consultancy

1)Short description

Benefits Consultancy Services.

2)Common procurement vocabulary (CPV)

66522000, 66523000, 75320000, 66141000, 66131100

3)Quantity or scope

Benefits Consultancy Services including but not limited to:
— Benefit administration advice about outsourcing / reshaping service delivery.
— Benefit administration advice to new or existing participating employers.
— Attendance at meetings as required by stakeholders.
— Support for and supply of scheme communication and information to stakeholders as required including but not limited to scheme members, pension boards, section 101 committees or equivalent and employers.
— Provide pension fund risk management and implementation services.
— Process design and implementation.
— Advice on administration management structures, service standards and key performance indicators.
— Advice on compliance with regulatory requirements.
— Policy Development.
— Advice on the development and implementation of administration strategy (including, but not limited to, advice on a Pensions Administration Strategy).
— Working with LGPS administration software providers.
— Pensions taxation advice.
— Internal Dispute Resolution Procedure (IDRP) guidance.
— Provision of training.
4)Indication about different date for duration of contract or starting/completion
5)Additional information about lots

Lot No: 3 Lot title: Provision of Governance Consultancy

1)Short description

2)Common procurement vocabulary (CPV)

66522000, 66141000, 66523000, 75320000, 66131100

3)Quantity or scope

Governance Consultancy Services including but not limited to:
— Advice and guidance on fund governance.
— Support for and supply of scheme communication and information to stakeholders as required including but not limited to scheme members, pension boards, section 101 committees or equivalent and employers.
— Risk Management related to governance and scheme analysis.
— Reviews and guidance on governance structures and its effectiveness.
— Strategy and Policy Development.
— Advice on compliance with regulatory requirement and other governance standards.
— Advice and attendance at meetings as required by stakeholders.
— Provision of training.
4)Indication about different date for duration of contract or starting/completion
5)Additional information about lots

Lot No: 4 Lot title: Consultancy Services to Support Specialist Projects

1)Short description

Provision of Consultancy Services to Support Specialist Projects.

2)Common procurement vocabulary (CPV)

66522000, 66523000, 75320000, 66141000, 66131100

3)Quantity or scope

Discrete pieces of specialist, pensions-related project work including, but not limited to:
— LGPS asset management restructuring (‘asset pooling’).
— Change management.
— Project management.
— Regulatory compliance reviews (including, but not limited to, compliance with The Pensions Regulator requirements).
— Data Quality and Validation Audits.
4)Indication about different date for duration of contract or starting/completion
5)Additional information about lots

Section III: Legal, economic, financial and technical information

III.1)Conditions relating to the contract
III.1.1)Deposits and guarantees required:

III.1.2)Main financing conditions and payment arrangements and/or reference to the relevant provisions governing them:

As detailed in the tender documents.
III.1.3)Legal form to be taken by the group of economic operators to whom the contract is to be awarded:

III.1.4)Other particular conditions

The performance of the contract is subject to particular conditions: no
III.2)Conditions for participation
III.2.1)Personal situation of economic operators, including requirements relating to enrolment on professional or trade registers

III.2.2)Economic and financial ability

Information and formalities necessary for evaluating if the requirements are met: As detailed in the tender documents.
Minimum level(s) of standards possibly required: As detailed in the tender documents.

III.2.3)Technical capacity

Information and formalities necessary for evaluating if the requirements are met:
As detailed in the tender documents.
Minimum level(s) of standards possibly required:
As detailed in the tender documents.
III.2.4)Information about reserved contracts
III.3)Conditions specific to services contracts

III.3.1)Information about a particular profession

Execution of the service is reserved to a particular profession: no

III.3.2)Staff responsible for the execution of the service

Legal persons should indicate the names and professional qualifications of the staff responsible for the execution of the service: no

Section IV: Procedure

IV.1)Type of procedure

IV.1.1)Type of procedure

Open
IV.1.2)Limitations on the number of operators who will be invited to tender or to participate
IV.1.3)Reduction of the number of operators during the negotiation or dialogue
IV.2)Award criteria

IV.2.1)Award criteria

The most economically advantageous tender in terms of the criteria stated in the specifications, in the invitation to tender or to negotiate or in the descriptive document

IV.2.2)Information about electronic auction

An electronic auction will be used: no
IV.3)Administrative information

IV.3.1)File reference number attributed by the contracting authority:

NCCT40954

IV.3.2)Previous publication(s) concerning the same contract

Prior information notice

Notice number in the OJEU: 2016/S 004-003963 of 7.1.2016

IV.3.3)Conditions for obtaining specifications and additional documents or descriptive document

Time limit for receipt of requests for documents or for accessing documents: 11.4.2016
Payable documents: no

IV.3.4)Time limit for receipt of tenders or requests to participate

12.4.2016 – 14:00
IV.3.5)Date of dispatch of invitations to tender or to participate to selected candidates

IV.3.6)Language(s) in which tenders or requests to participate may be drawn up

English.

IV.3.7)Minimum time frame during which the tenderer must maintain the tender

in days: 90 (from the date stated for receipt of tender)

IV.3.8)Conditions for opening of tenders

Persons authorised to be present at the opening of tenders: no

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: no

VI.2)Information about European Union funds

The contract is related to a project and/or programme financed by European Union funds: no

VI.3)Additional information

The duration of the framework will be 4 years, but as the Local Government Pension Scheme regulations require that each Fund obtains an actuarial valuation of its assets and liabilities every 3 years, as it is desirable for cost and continuity reasons that the contract can be utilised for 2 cyclical valuations, contracts awarded under the framework may be for up to 7 years.

This procurement will be managed electronically via the Council’s procurement system. To participate in this procurement, Applicants must first be registered on the procurement system at https://in-tendhost.co.uk/norfolkcc

Full instructions for registration and use of the system can be found at https://in-tendhost.co.uk/norfolkcc/aspx/BuyerProfiles

Once registered you will be able to view the procurement under the tenders section and express an interest. If you encounter any difficulties whilst using the system you can contact the support team by phoning +44 8442728810 or e-mailing support@in-tend.co.uk.

VI.4)Procedures for appeal
VI.4.1)Body responsible for appeal procedures

VI.4.2)Lodging of appeals

Precise information on deadline(s) for lodging appeals: Norfolk County Council will incorporate a standstill period at the point information on the proposed award of the contract is communicated to tenderers. That notification will provide full information on the award decision. The standstill period, which will be for a minimum of 10 calendar days, provides time for unsuccessful tenderers to challenge the award decision before the contract is entered into. The Public Contracts Regulations 2015 provide for aggrieved parties who have been harmed or are at risk of harm by a breach of the rules to take action in the High Court (England, Wales and Northern Ireland).
VI.4.3)Service from which information about the lodging of appeals may be obtained

VI.5)Date of dispatch of this notice:

10.3.2016

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