Award

Pensions Realisation

THE INSOLVENCY SERVICE

This public procurement record has 1 release in its history.

Award

17 May 2024 at 14:44

Award Notice
Summary of the contracting process

The Insolvency Service has awarded a contract for their "Pensions Realisation" project, which involves outsourced administrative support for handling vesting pension assets in bankruptcy cases. The contract value is £700,000 GBP, with the contract period starting on May 2, 2024, and ending on May 1, 2027. The procurement method used was 'Other - Single tender action (above threshold)', and the tender period ended on November 17, 2023. This opportunity falls under the main procurement category of services and is suitable for SMEs.

This contract presents a growth opportunity for businesses in the pension services sector, particularly those providing administrative support for pension asset processing in bankruptcy cases. Companies experienced in handling similar outsourced services within the United Kingdom can leverage their expertise to compete for this contract. The tender was awarded to GOWLING WLG (UK) LLP, showcasing potential for legal firms offering services in this niche to secure similar future contracts.

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Notice Information

Notice Title

Pensions Realisation

Notice Description

Provision of outsourced administrative support for the processing of vesting pension assets in bankruptcy cases

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-063ed38e-08f7-4499-8afe-0e919473022c
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/254464a1-1540-46fd-ac76-9deffeaa7e89
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other - Single tender action (above threshold)
Tender Suitability
SME
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66520000 - Pension services

Notice Value(s)

Tender Value
£700,000 £500K-£1M
Lots Value
Not specified
Awards Value
£700,000 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
17 May 20241 years ago
Submission Deadline
17 Nov 2023Expired
Future Notice Date
Not specified
Award Date
1 May 20241 years ago
Contract Period
1 May 2024 - 1 May 2027 2-3 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
THE INSOLVENCY SERVICE
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
STRATFORD
Postcode
SW1P 2HT
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

GOWLING WLG (UK

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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