Pension Administration and Actuarial Services Tender
A comprehensive pensions administration service and maintenance of comprehensive central records embracing active, deferred and pensioner members.
United Kingdom-London: Pension services
Section I: Contracting authority
I.1)Name and addresses
Fleet House, 59-61 Clerkenwell Road
Contact person: Gabriel Otubambo
NUTS code: UK
I.4)Type of the contracting authority
Section II: Object
Pension Administration, Actuarial, Investment Consulting and Scheme Secretarial Services
II.1.2)Main CPV code
II.1.3)Type of contract
— a comprehensive pensions administration service and maintenance of comprehensive central records embracing active, deferred and pensioner members, deaths (including organising claiming of insured death benefits), transfers in and out, retirements, early retirements, annual renewal and issue of member benefit statements, AVCs (calculated on a monthly basis and unitised; liaison with pension payroll accordingly; instructing AVC provider on Trustee’s behalf), calculation of pension increases, special benefits etc (including notification to members), provision and maintenance of an up to date administration manual,
— provide online access for members, detail relevant information in their pension and benefits,
— quarterly administration report including demonstration of achievement of agreed SLAs (Service Level Agreements) and including average SLAs plus including reference to the Pension Regulator’s data cleaning requirements,
— retirement annuity bureau facility,
— attendance and part.
II.1.5)Estimated total value
II.1.6)Information about lots
II.2.3)Place of performance
II.2.4)Description of the procurement:
The Trustees wish to establish a Contract for the provision of pension administration, actuarial, investment consulting and scheme secretarial services.
The contract is not being divided into lots as the Authority believes that the contract will be best delivered and managed by a single economic operator. The introduction of Lots would introduce the need for higher internal resource. The Trustees also believe that they will achieve better value for money by appointing a single economic operator.
The provider will be managing the final salary pension plan, which is split into 2 closed defined pension schemes.
The 1964 Southern Housing Group Pension Plan section is the historic pension scheme with 37 active members which is now closed to new entrants. There are both contributing and non-contributing members of the scheme. The scheme also has 284 deferred members and 156 pensioners, and at its current Triennial Valuation as at 31.3.2018, its assets were valued at 45 000 000 GBP.
The 2017 Southern Housing Group Pension Plan section is a section which is closed to new entrants and which came into existence following the group transferring out of the Social Housing Pensions Scheme (SHPS) in September 2017, with 20 active members. There are both contributing and non-contributing members of the scheme. The scheme also has 153 deferred members and 257 pensioners, and at its current triennial valuation as at 31.3.2018, its assets were valued at 17 800 000 GBP.
II.2.7)Duration of the contract, framework agreement or dynamic purchasing system
The duration of the contract is for an initial period of 5 years (60 months) extendable by 5 years (60 months).
II.2.10)Information about variants
II.2.11)Information about options
II.2.13)Information about European Union funds
To respond to this opportunity please click here: https://www.delta-esourcing.com/respond/8583J27KE6
Section III: Legal, economic, financial and technical information
III.1.2)Economic and financial standing
III.1.3)Technical and professional ability
Section IV: Procedure
IV.1.1)Type of procedure
IV.1.8)Information about the Government Procurement Agreement (GPA)
IV.2.2)Time limit for receipt of tenders or requests to participate
IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates
IV.2.4)Languages in which tenders or requests to participate may be submitted:
IV.2.6)Minimum time frame during which the tenderer must maintain the tender
Section VI: Complementary information
VI.1)Information about recurrence
The Contracting Authority considers that this contract may be suitable for economic operators that are small or medium enterprises (SMEs). However, any selection of tenderers will be based solely on the criteria set out for the procurement. GO Reference: GO-2019423-PRO-14827670
Telephone: +44 2079476000
VI.4.2)Body responsible for mediation procedures
70 Fleet Street
Telephone: +44 2075366000
VI.4.4)Service from which information about the review procedure may be obtained
Telephone: +44 2072761234
VI.5)Date of dispatch of this notice: