Great British Nuclear (GBN) Workplace Pension Scheme

Concepts

• pension services
• pension investment
• pension fund management
• group pension
• pension fund administration
• government employee pension schemes

Location

United Kingdom:

Description

The Government is committed to a programme of new nuclear projects beyond Sizewell C, giving industry and investors the confidence, they need to deliver projects at speed. Great British Nuclear (GBN) was launched to lead delivery of a programme of new nuclear projects. GBN is an executive non-departmental public body, sponsored by the Department for Energy Security and Net Zero. GBN will implement UK policy on new nuclear generation, ensuring energy security and implement a programme that will deliver faster, better value projects with private sector investment. GBN intends to establish a Defined Contribution (DC) pension plan for its employees which will also act as the auto-enrolment scheme. GBN is seeking a provider to establish a Defined Contribution workplace pension for its employees. All employees will be new staff as such there are no existing DC assets to transfer into the new pension plan. GBN reserves the right to extend the pension provision to any subsidiary which may be set up. GBN reserves the right not to make any award at all, or where an award is made not to extend provision to any subsidiary which may be set up. The estimated total value is indicative only and is based upon GBN’s current understanding of the market, the potential costs of the Total Expense Ratio charge and prior to the conduct of the competitive procurement process.

Total Quantity or Scope

GBN requires a provider to establish a Defined Contribution workplace pension for its employees. GBN reserves the right to extend this provision to its subsidiaries. The Procurement Process will take the form of an Open Procedure and will be conducted in accordance with PCR 2015. In accordance with the Public Services (Social Value) Act 2012, GBN must consider (a) how what is proposed to be procured might improve the economic, social and environmental well-being of the area where it exercises its functions, and (b) how in conducting the process of procurement it might act with a view to securing that improvement. Accordingly, GBN has taken this into account when designing the procurement. The required pension plan is to include the following: Ability to operate under the provider’s Master Trust arrangement; Provision of a ‘matching approach’ with a strong level of contributions; Provision of a competitive, flexible, and modern pension arrangement; One contribution structure for all employees; Availability for entry on day 1 of employment; Contributions based on a percentage of basic salary only; Costs to be taken from the contributions made. The tender documents will include further information regarding the requirements. The Invitation to Tender consists of a Qualification, Technical and Commercial evaluation The contract will be awarded to the Most Economically Advantageous Tender. Additional information: GBN currently has no employees, it is anticipated these will be recruited from the wider nuclear industry

CPV Codes

• 66520000 - Pension services
• 66131100 - Pension investment services
• 66141000 - Pension fund management services
• 66522000 - Group pension services
• 66523100 - Pension fund administration services
• 75320000 - Government employee pension schemes

Indicators

• This is a one-off contract (no recurrence)
• Renewals are not available.
• Professional qualifications are sought.

Other Information

** PREVIEW NOTICE, please check Find a Tender for full details. ** If you wish to participate and view the procurement documentation, please register on the Jaggaer eSourcing Portal. Following registration, potential bidders will be granted access to redacted procurement documentation. Full procurement documentation will be made available to potential bidders on completion and return of a signed Non-Disclosure Agreement (NDA). The NDA document will be made available via the Jaggaer eSourcing Portal. Potential bidders are requested to read the procurement documentation in full. All queries should be submitted via the Jaggaer eSourcing Portal. GBN will not contact bidders through any other route. Tenders or requests to participate must be submitted electronically via: https://beisgroup.ukp.app.jaggaer.com/ GBN is not committed to any course of action because of this notice. It is not liable for any costs incurred including in respect of expressing an interest or in tendering for this opportunity. GBN reserves the right to abandon or terminate the procurement (or any part of it) at its own discretion. Important note: This Contract Notice must be read in full. Suppliers are reminded that participation in this procurement will be subject to the terms and conditions set out in the procurement documents and the Jaggaer eSourcing Portal. Great British Nuclear is a trading name of British Nuclear Fuels Limited, a company registered in England and Wales with registered number: 05027024. Registered office address: 1 Victoria Street, London, England, SW1H 0ET.