Independent Financial Advisers for an Enhanced Transfer Value Exercise

Independent Financial Advisers for an Enhanced Transfer Value Exercise

MAG Airport Ltd is seeking to appoint a firm of Independent Financial Advisers for an enhanced transfer value for deferred members of each of the 4 defined benefit pension schemes.

United Kingdom-Manchester: Pension services

2019/S 162-399518

Contract notice – utilities

Services

Legal Basis:

Directive 2014/25/EU

Section I: Contracting entity

I.1)Name and addresses

MAG Airport Ltd
11748654
Olympic House, Manchester Airport
Manchester
M90 1QX
United Kingdom
Contact person: Tina Yu
E-mail: Tina.Yu@magairports.com
NUTS code: UKD3
Internet address(es):Main address: www.magairports.com

I.2)Information about joint procurement

The contract is awarded by a central purchasing body

I.3)Communication

The procurement documents are available for unrestricted and full direct access, free of charge, at: https://esourcing.waxdigital.co.uk/MAG/SignIn.aspx
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be submitted electronically via: https://esourcing.waxdigital.co.uk/MAG/SignIn.aspx

I.6)Main activity

Airport-related activities

Section II: Object

II.1)Scope of the procurement

II.1.1)Title:

Provision of a Firm of Independent Financial Advisers for an Enhanced Transfer Value Exercise

Reference number: ID 2672

II.1.2)Main CPV code

66520000

II.1.3)Type of contract

Services

II.1.4)Short description:

MAG Airport Ltd is seeking to appoint a firm of Independent Financial Advisers (IFA) for an enhanced transfer value (‘ETV Exercise’) for deferred members of each of the 4 defined benefit pension schemes in MAG who are aged 54 or over as at 31.12.2019. MAG expects the ETV Exercise to follow the code of practice for incentive exercises and as part of this appoint a member adviser as defined in that code. MAG anticipates the ETV Exercise to commence from 1.12.2019 with the IFA in place to provide advice from Q1 2020 (calendar year).

The contract will serve all of MAG currently Manchester, London Stansted and East Midlands Airports.

There is no guarantee to the value or volume of work awarded under the contract. Further details are contained within the procurement documents.

II.1.5)Estimated total value

Value excluding VAT: 400 000.00 GBP

II.1.6)Information about lots

This contract is divided into lots: no
II.2)Description
II.2.1)Title:

II.2.2)Additional CPV code(s)

66521000
66522000
66523000
66523100

II.2.3)Place of performance

NUTS code: UK
Main site or place of performance:

The contract will serve all of MAG, currently Manchester, London Stansted and East Midlands Airports.

II.2.4)Description of the procurement:

MAG Airport Ltd is seeking to appoint a firm of Independent Financial Advisers (IFA) for an enhanced transfer value (‘ETV Exercise’) for deferred members of each of the 4 defined benefit pension schemes in MAG who are aged 54 or over as at 31.12.2019. MAG expects the ETV Exercise to follow the code of practice for incentive exercises and as part of this appoint a member adviser as defined in that code. MAG anticipates the ETV Exercise to commence from 1.12.2019 with the IFA in place to provide advice from Q1 2020 (calendar year).

The award of contract is subject to the intended provider authorised and regulated by the financial conduct authority who must explicitly take regulatory responsibility when issuing a recommendation report to a member and ensure adherence to industry regulatory practices for the scope of service to be provided.

Based on portfolio of current potential members, the contract value is estimated to be circa 350 000 GBP to 400 000 GBP. There is no guarantee to the value or volume of work awarded under the contract. Further details are contained within the procurement documents.

II.2.5)Award criteria

Price is not the only award criterion and all criteria are stated only in the procurement documents

II.2.6)Estimated value

Value excluding VAT: 400 000.00 GBP

II.2.7)Duration of the contract, framework agreement or dynamic purchasing system

Duration in months: 12
This contract is subject to renewal: no

II.2.9)Information about the limits on the number of candidates to be invited

Envisaged number of candidates: 3
Objective criteria for choosing the limited number of candidates:

Criteria is contained within the procurement documents.

II.2.10)Information about variants

Variants will be accepted: no

II.2.11)Information about options

Options: yes
Description of options:

This procurement comprises of a framework agreement for the provision of Independent Financial Advisers for an ETV Exercise. The framework agreement will be let for a period of 1 year from the contract award date (target 18.11.2019). The intention is to award the first call-off contract under this framework agreement on the contract award date (target date 18.11.2019). Further details are contained within the procurement documents.

II.2.12)Information about electronic catalogues

II.2.13)Information about European Union funds

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

II.2.14)Additional information

Further details are contained within the procurement documents.

Section III: Legal, economic, financial and technical information

III.1)Conditions for participation

III.1.1)Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers

List and brief description of conditions:

The award of contract is subject to the intended provider authorised and regulated by the financial conduct authority who must explicitly take regulatory responsibility when issuing a recommendation report to a member and ensure adherence to industry regulatory practices for the scope of service to be provided. Further details are contained within the procurement documents.

III.1.2)Economic and financial standing

Selection criteria as stated in the procurement documents

III.1.3)Technical and professional ability

Selection criteria as stated in the procurement documents

III.1.4)Objective rules and criteria for participation

List and brief description of rules and criteria:

The award of contract is subject to the intended provider authorised and regulated by the financial conduct authority who must explicitly take regulatory responsibility when issuing a recommendation report to a member and ensure adherence to industry regulatory practices for the scope of service to be provided. The intended provider will be required to submit evidence within their procurement submission.

III.1.5)Information about reserved contracts
III.1.6)Deposits and guarantees required:

III.1.7)Main financing conditions and payment arrangements and/or reference to the relevant provisions governing them:

As detailed within the procurement documentation.

III.1.8)Legal form to be taken by the group of economic operators to whom the contract is to be awarded:

As detailed within the procurement documentation.

III.2)Conditions related to the contract

III.2.1)Information about a particular profession

Execution of the service is reserved to a particular profession
Reference to the relevant law, regulation or administrative provision:

The award of contract is subject to the intended provider authorised and regulated by the financial conduct authority who must explicitly take regulatory responsibility when issuing a recommendation report to a member and ensure adherence to industry regulatory practices for the scope of service to be provided. The intended provider will be required to submit evidence within their procurement submission.

III.2.2)Contract performance conditions:

Further details are contained within the procurement documents.

III.2.3)Information about staff responsible for the performance of the contract

Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract

Section IV: Procedure

IV.1)Description

IV.1.1)Type of procedure

Negotiated procedure with prior call for competition

IV.1.3)Information about a framework agreement or a dynamic purchasing system

The procurement involves the establishment of a framework agreement
Framework agreement with a single operator

IV.1.4)Information about reduction of the number of solutions or tenders during negotiation or dialogue

Recourse to staged procedure to gradually reduce the number of solutions to be discussed or tenders to be negotiated
IV.1.6)Information about electronic auction

IV.1.8)Information about the Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: yes
IV.2)Administrative information
IV.2.1)Previous publication concerning this procedure

IV.2.2)Time limit for receipt of tenders or requests to participate

Date: 12/09/2019
Local time: 10:00

IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates

Date: 25/09/2019

IV.2.4)Languages in which tenders or requests to participate may be submitted:

English

IV.2.6)Minimum time frame during which the tenderer must maintain the tender

Duration in months: 6 (from the date stated for receipt of tender)
IV.2.7)Conditions for opening of tenders

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: no

VI.2)Information about electronic workflows

Electronic ordering will be used
Electronic invoicing will be accepted
Electronic payment will be used

VI.3)Additional information:

To express an interest and participate in this procurement, applicants must register on MAG Source Wax Digital (MAG’s E-Sourcing Portal) free of charge at the earliest opportunity by visiting https://esourcing.waxdigital.co.uk/MAG/

Applicants will only be able to upload/download documents when they have registered on and selected to participate in the relevant procurement event via https://esourcing.waxdigital.co.uk/MAG/

Following registration all tendering communication, including access to procurement documents, are to be made via https://esourcing.waxdigital.co.uk/MAG/

If you require technical assistance regarding using the MAG Source Wax Digital system, please contact WAX Digital Ltd quoting the name and telephone number of your organisation on: +44 (0)1613678375, opening hours: Monday-Friday 09.00-17.30.

VI.4)Procedures for review

VI.4.1)Review body

MAG Legal Department
Olympic House, Manchester Airport
Manchester
M90 1QX
United Kingdom
VI.4.2)Body responsible for mediation procedures
VI.4.3)Review procedure
VI.4.4)Service from which information about the review procedure may be obtained

VI.5)Date of dispatch of this notice:

20/08/2019

Enjoyed this post? Share it!