Pension Support Services

Concepts

• pension services
• inverness
• highlands and islands enterprise superannuation scheme
• tbthss
• investment and actuarial and also guaranteed minimum pension
• pension support services
• administration services element of the contract
• pension fund consultancy
• core elements of the service
• pensioner payroll

Location

United Kingdom:

Description

This is a Contract Award Notice and as such the procurement process is complete. The Board of Trustees (the Trustees) of the Highlands and Islands Enterprise Superannuation Scheme (TBTHSS) are inviting bids for pension support services including Administration; Investment and Actuarial and also Guaranteed Minimum Pension (GMP) equalisation exercise. It is expected that these services will be required from 1 May 2023 for an initial period of 3 years with the Trustees having the option to extend for a period or periods together not exceeding 1 calendar year following the Initial Term. Should the supplier be unsuccessful at the re-tender, the administration services element of the contract will be extended by up to 6 months - the maximum contract length is stated as 54 months to reflect this. The maximum initial 3-year budget currently available to deliver the core elements of the service is GBP 650,000 and the maximum budget for the GMP equalisation exercise was GBP 100,000 (both excluding VAT - see Scope of Requirements and Tender Guidance for full details).

Total Quantity or Scope

The key tasks cover: -Administration – general; scheme accounting; pensioner payroll; governance / scheme secretarial support -Actuarial consultancy -Investment consultancy -Guaranteed Minimum Pension age equalisation exercise The contract starts on 1 May 2023 and is let for 3 years until 30 April 2026, with the Trustees having the option to extend by a period or periods up to 12 months. Additional information: Economic operators may be excluded from this competition if they are in any of the situations referred to in Regulation 58 of the Public Contracts (Scotland) Regulations 2015.

Award Detail

Renewal Options

The Trustees reserves the right, on giving reasonable written notice from time to time, to require changes to the Services (whether by way of the removal of Services, the addition of new Services, or increasing or decreasing the Services or specifying the order in which the Services are to be performed or the locations where the Services are to be provided). The Trustees shall not require any such change other than where it is permitted by Regulation 72 of the Public Contracts (Scotland) Regulations 2015. In accordance with Regulation 72(1)(a) of the Public Contracts (Scotland) Regulations 2015, Trustees reserves the right to make changes to the volume, scope or location of the Services to be supplied under the Framework following a review of the Services by Trustees, particularly with regard to: - Non-core activities: the Trustees will provide a set of requirements and request a price as well as delivery methodology. If accepted, these services will be charged in addition to the supplier’s fixed fees. - Changes in the pensions regulations require additional services or removal of services. - The supplier is unsuccessful at the re-tender – the admin element of the contract will have to carry on for up to 6 months, allowing the incoming supplier to accommodate the handover

Award Criteria

CPV Codes

• 66520000 - Pension services
• 66523000 - Pension fund consultancy services
• 66522000 - Group pension services
• 66131100 - Pension investment services
• 66141000 - Pension fund management services
• 66523100 - Pension fund administration services

Indicators

• Options are available.

Other Information

** PREVIEW NOTICE, please check Find a Tender for full details. ** It is estimated that the total value of the services over the maximum duration of 4 years will be GBP 952,000 (ex VAT). This is the figure which has been used in II.1.7 & V.2.4. (SC Ref:723916)